The Home Depot, Inc. (NYSE:HD) is Dearborn Partners LLC's 9th Largest Position

Key Points

• Dearborn Partners LLC reduced its stake in Home Depot by 16.8%, selling 22,055 shares and holding a total of 109,272 shares valued at approximately $40 million.
• Analysts have given Home Depot a consensus rating of "Moderate Buy" with an average target price of $426.77, following several adjustments in price targets among major financial institutions.
• Home Depot declared a quarterly dividend of $2.30 per share, resulting in an annualized dividend of $9.20 and a yield of 2.44%.

Dearborn Partners LLC reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 16.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,272 shares of the home improvement retailer's stock after selling 22,055 shares during the quarter. Home Depot comprises approximately 1.9% of Dearborn Partners LLC's portfolio, making the stock its 9th biggest holding. Dearborn Partners LLC's holdings in Home Depot were worth $40,047,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after acquiring an additional 7,203 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after acquiring an additional 565 shares in the last quarter. New Age Alpha Advisors LLC raised its stake in shares of Home Depot by 8,807.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 2,494 shares of the home improvement retailer's stock worth $970,000 after acquiring an additional 2,466 shares in the last quarter. StoneX Group Inc. raised its stake in shares of Home Depot by 26.7% during the fourth quarter. StoneX Group Inc. now owns 22,091 shares of the home improvement retailer's stock worth $8,593,000 after acquiring an additional 4,656 shares in the last quarter. Finally, Nemes Rush Group LLC raised its stake in shares of Home Depot by 6.3% during the fourth quarter. Nemes Rush Group LLC now owns 49,081 shares of the home improvement retailer's stock worth $19,092,000 after acquiring an additional 2,919 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 1.6%

Shares of HD stock traded up $6.04 during mid-day trading on Friday, reaching $373.55. 3,006,523 shares of the company's stock traded hands, compared to its average volume of 3,228,696. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a market cap of $371.66 billion, a P/E ratio of 25.34, a P/E/G ratio of 3.55 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The company's 50-day moving average price is $365.84 and its 200-day moving average price is $372.91.

Home Depot (NYSE:HD - Get Free Report) last announced its 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 8.98% and a return on equity of 242.51%. The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm posted $3.63 EPS. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Wall Street Analyst Weigh In

Several research firms have commented on HD. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Gordon Haskett lifted their price target on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Monday, June 30th. Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. Finally, TD Securities cut shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity

In other 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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 completion of the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

About Home Depot

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.