The Home Depot, Inc. (NYSE:HD) Shares Sold by Evernest Financial Advisors LLC

Key Points

• Evernest Financial Advisors LLC reduced its stake in The Home Depot, Inc. by 21% in Q1, selling 908 shares and ending with 3,417 shares valued at $1.25 million.
• Home Depot's latest earnings report revealed a missed EPS estimate of $3.56, compared to $3.59 expected, despite a revenue increase to $39.86 billion.
• The company recently distributed a quarterly dividend of $2.30 per share, yielding 2.4% annually, with a payout ratio of 62.42%.

Evernest Financial Advisors LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 21.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,417 shares of the home improvement retailer's stock after selling 908 shares during the period. Evernest Financial Advisors LLC's holdings in Home Depot were worth $1,252,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HD. Navigoe LLC purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $29,000. Abound Financial LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $31,000. Iron Horse Wealth Management LLC grew its position in shares of Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after buying an additional 46 shares during the last quarter. Quarry LP raised its stake in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. lifted its position in Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HD shares. Mizuho reduced their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Wells Fargo & Company set a $420.00 price target on Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. JPMorgan Chase & Co. lifted their target price 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. Finally, Royal Bank Of Canada cut their price target on shares of 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. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity

In related news, 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 transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business's 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 transaction, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

Home Depot Price Performance

HD traded up $1.60 during midday trading on Friday, hitting $387.77. 2,326,668 shares of the company traded hands, compared to its average volume of 3,127,176. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company has a market capitalization of $385.80 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.67 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The business has a 50 day simple moving average of $367.64 and a two-hundred day simple moving average of $372.52.

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 company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the business earned $3.63 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Home Depot Company 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.