Longbow Finance SA Reduces Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• Longbow Finance SA reduced its stake in The Home Depot by 58.6%, selling 13,131 shares, which leaves them with 9,276 shares valued at approximately $3.4 million.
• Several institutional investors have recently increased their investments in Home Depot, with Brighton Jones LLC raising its stake by 36.5% during the fourth quarter of last year.
• The latest earnings report revealed a quarterly earnings per share (EPS) of $3.56, which was below the consensus estimate, but the company's revenue increased by 9.4% year-over-year.

Longbow Finance SA lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 58.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,276 shares of the home improvement retailer's stock after selling 13,131 shares during the quarter. Longbow Finance SA's holdings in Home Depot were worth $3,400,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Navigoe LLC bought a new stake in Home Depot in the 4th quarter valued at $29,000. Abound Financial LLC acquired a new position in Home Depot during the 1st quarter worth about $31,000. Iron Horse Wealth Management LLC lifted 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 buying an additional 46 shares in the last quarter. Quarry LP lifted 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 buying 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 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares during the period. Institutional investors own 70.86% of the company's stock.

Insider Buying and Selling

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's 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 completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president owned 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 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 $1.38 during midday trading on Tuesday, hitting $375.85. The stock had a trading volume of 1,072,944 shares, compared to its average volume of 3,539,204. The company has a market cap of $373.95 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The business has a fifty day moving average of $365.55 and a 200 day moving average of $373.66. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates 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% compared to the same quarter last year. During the same period last year, the company posted $3.63 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot's dividend payout ratio is presently 62.42%.

Analyst Ratings Changes

HD has been the topic of several research analyst reports. 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. Royal Bank Of Canada decreased their price objective on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. TD Securities cut shares of Home Depot to a "buy" rating in a research report on Monday, June 2nd. Finally, DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

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.