InTrack Investment Management Inc Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

InTrack Investment Management Inc trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 67.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,330 shares of the home improvement retailer's stock after selling 2,785 shares during the quarter. InTrack Investment Management Inc's holdings in Home Depot were worth $487,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Home Depot in the 4th quarter worth approximately $5,032,910,000. GAMMA Investing LLC raised its holdings in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the period. Raymond James Financial Inc. bought a new stake in Home Depot in the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC lifted its position in Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after buying an additional 2,030,372 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.7%

Shares of HD traded up $2.53 during midday trading on Thursday, hitting $362.99. 2,918,183 shares of the company's stock traded hands, compared to its average volume of 3,405,621. 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 stock has a market capitalization of $361.15 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The firm's fifty day moving average is $362.33 and its 200-day moving average is $383.33.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results 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). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the business posted $3.63 EPS. Home Depot'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 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Insider Buying and Selling at Home Depot

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Mizuho decreased their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 target price on Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, TD Securities downgraded Home Depot to a "buy" rating in a report on Monday, June 2nd. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $426.77.

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.