The Home Depot, Inc. (NYSE:HD) Shares Acquired by Nicolet Advisory Services LLC

Key Points

• Nicolet Advisory Services LLC increased its holdings in Home Depot by 6.6% during the first quarter, now owning shares valued at $7.16 million.
• Home Depot recently declared a quarterly dividend of $2.30 per share, reflecting an annualized dividend of $9.20 and a yield of 2.5%.
• In its latest earnings report, Home Depot reported an EPS of $3.56, slightly missing analysts' expectations, but revenue rose by 9.4% year-over-year to $39.86 billion.

Nicolet Advisory Services LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,251 shares of the home improvement retailer's stock after buying an additional 1,247 shares during the period. Nicolet Advisory Services LLC's holdings in Home Depot were worth $7,161,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in Home Depot in the first quarter worth $31,000. Iron Horse Wealth Management LLC lifted its stake in Home Depot by 86.8% in the first 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 period. Quarry LP lifted its stake in Home Depot by 220.0% in the fourth 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 period. Finally, Quest 10 Wealth Builders Inc. lifted its stake in Home Depot by 35.7% in the first 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 period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Royal Bank Of Canada reduced their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, TD Securities downgraded Home Depot to a "buy" rating in a report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Buying and Selling at Home Depot

In other Home Depot news, 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 transaction of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company's stock.

Home Depot Trading Up 1.3%

Home Depot stock traded up $4.94 during trading on Tuesday, reaching $385.76. 1,735,779 shares of the company were exchanged, compared to its average volume of 3,525,215. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The company has a market capitalization of $383.81 billion, a P/E ratio of 26.17, a PEG ratio of 3.55 and a beta of 1.00. 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's 50 day simple moving average is $366.19 and its two-hundred day simple moving average is $372.71.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the business earned $3.63 EPS. Home Depot's revenue was up 9.4% compared to the same quarter last year. On average, equities research 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 announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is presently 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.