Prudential PLC Sells 14,786 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Prudential PLC reduced its stake in The Home Depot, Inc. by 16.2%, selling 14,786 shares and retaining a total of 76,595 shares valued at approximately $28 million.
• Insider executives at Home Depot, including Fahim Siddiqui and Teresa Wynn Roseborough, recently sold significant amounts of stock, reducing their ownership by 24.64% and 23.74%, respectively.
• Home Depot's quarterly earnings missed expectations slightly, reporting earnings of $3.56 per share against a forecast of $3.59, while revenues exceeded predictions with $39.86 billion for the quarter.

Prudential PLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 16.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,595 shares of the home improvement retailer's stock after selling 14,786 shares during the period. Prudential PLC's holdings in Home Depot were worth $28,071,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HD. Navigoe LLC bought a new position in Home Depot during the fourth quarter valued at about $29,000. Abound Financial LLC bought a new position in shares of Home Depot during the 1st quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased its stake in shares of 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 purchasing an additional 46 shares during the last quarter. Quarry LP increased 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 purchasing an additional 66 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Home Depot by 35.7% in the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business'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 in the company, 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 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 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 completion of the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $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. Company insiders own 0.10% of the company's stock.

Home Depot Trading Up 0.0%

NYSE:HD opened at $387.92 on Tuesday. 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. The stock has a market cap of $385.95 billion, a P/E ratio of 26.32, a P/E/G ratio of 3.69 and a beta of 1.00. The stock has a 50-day simple moving average of $368.04 and a 200-day simple moving average of $371.78.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) 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 return on equity of 242.51% and a net margin of 8.98%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.63 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Gordon Haskett raised their target price on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Wells Fargo & Company set a $420.00 price target on shares of Home Depot and gave the company an "overweight" rating in a research report on Monday, June 30th. Evercore ISI set a $400.00 target price on Home Depot and gave the company an "outperform" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada dropped 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 report on Thursday, May 15th. Seven 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 company. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $426.77.

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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