Cullinan Associates Inc. Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cullinan Associates Inc. lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 11.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,020 shares of the home improvement retailer's stock after acquiring an additional 3,089 shares during the quarter. Cullinan Associates Inc.'s holdings in Home Depot were worth $11,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $32,000. Quarry LP increased its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after buying an additional 66 shares during the last quarter. Marshall Investment Management LLC purchased a new stake in Home Depot in the fourth quarter worth $41,000. Finally, Sellwood Investment Partners LLC purchased a new stake in Home Depot in the fourth quarter worth $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

NYSE:HD opened at $350.21 on Friday. The firm has a market capitalization of $348.44 billion, a price-to-earnings ratio of 23.76, a P/E/G ratio of 3.32 and a beta of 1.02. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock has a fifty day moving average of $362.65 and a 200 day moving average of $379.75. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business posted $3.63 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HD shares. Sanford C. Bernstein reissued a "market perform" rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Wedbush reissued an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Gordon Haskett raised their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Mizuho decreased their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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