EverSource Wealth Advisors LLC Has $10.72 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• EverSource Wealth Advisors LLC reduced its stock position in The Home Depot, Inc. by 2.3%, holding 29,236 shares valued at approximately $10.71 million.
• Wall Street analysts have mixed forecasts for Home Depot, with a consensus rating of "Moderate Buy" and an average price target of $427.48.
• Home Depot reported quarterly earnings with $3.56 EPS, slightly missing the consensus estimate, while announcing a $2.30 per share dividend, resulting in an annual yield of 2.3%.

EverSource Wealth Advisors LLC trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,236 shares of the home improvement retailer's stock after selling 687 shares during the quarter. EverSource Wealth Advisors LLC's holdings in Home Depot were worth $10,715,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HD. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Jefferies Financial Group reduced their price target on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. JPMorgan Chase & Co. upped their price target on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird reduced their price target on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $427.48.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on 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 directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

Home Depot Stock Down 1.6%

HD stock opened at $400.73 on Friday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The stock has a market capitalization of $398.70 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 3.87 and a beta of 1.00. The business's fifty day moving average price is $369.83 and its two-hundred day moving average price is $372.03. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

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 for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

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.

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