Cypress Asset Management Inc. TX Takes $7.06 Million Position in The Home Depot, Inc. (NYSE:HD)

Cypress Asset Management Inc. TX purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 17,784 shares of the home improvement retailer's stock, valued at approximately $7,063,000. Home Depot accounts for approximately 1.8% of Cypress Asset Management Inc. TX's investment portfolio, making the stock its 16th largest position.

Several other hedge funds have also bought and sold shares of the stock. Wealth Group Ltd. grew its stake in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock valued at $219,000 after buying an additional 27 shares during the last quarter. Tallon Kerry Patrick bought a new position in Home Depot in the fourth quarter worth approximately $281,000. Capital & Planning LLC grew its stake in Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer's stock worth $418,000 after purchasing an additional 563 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer's stock worth $1,765,000 after purchasing an additional 32 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Home Depot by 1.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 431,407 shares of the home improvement retailer's stock worth $167,813,000 after purchasing an additional 6,908 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. TD Securities restated a "buy" rating and issued a $470.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and upped their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity at Home Depot

In other Home Depot news, 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 transaction of $954,564.00. Following the completion of the sale, the executive vice president now owns 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% 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 Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

HD traded down $0.54 on Friday, reaching $367.75. The stock had a trading volume of 1,268,924 shares, compared to its average volume of 3,420,408. The company has a market capitalization of $365.56 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm has a 50-day moving average of $360.78 and a 200-day moving average of $386.29. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a fifty-two week low of $323.93 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the business posted $3.63 earnings per share. The business's revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

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.