The Home Depot, Inc. (NYSE:HD) Shares Sold by Schnieders Capital Management LLC

Key Points

• Schnieders Capital Management LLC sold 1,555 shares of The Home Depot, reducing its stake by 13.3%, and now owns 10,154 shares worth approximately $3.72 million.
• The Home Depot has seen a range of recent price target adjustments from analysts, with the consensus price target now set at $426.77 and 20 analysts rating it as a buy.
• The company recently declared a $2.30 quarterly dividend, representing a 2.4% yield, and had a payout ratio of 62.42% as of the latest announcement.

Schnieders Capital Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,154 shares of the home improvement retailer's stock after selling 1,555 shares during the quarter. Schnieders Capital Management LLC's holdings in Home Depot were worth $3,721,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Home Depot during the first quarter worth approximately $406,000. Wealth Management Partners LLC increased its holdings in Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after buying an additional 36 shares during the period. Arbor Capital Management Inc. ADV increased its holdings in Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after buying an additional 221 shares during the period. ARS Wealth Advisors Group LLC increased its holdings in Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock valued at $11,628,000 after buying an additional 239 shares during the period. Finally, Tabor Asset Management LP purchased a new position in Home Depot during the first quarter valued at approximately $5,886,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the company an "overweight" rating in a report on Monday, June 30th. Royal Bank Of Canada cut 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. DA Davidson cut their price objective on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, Morgan Stanley reissued an "overweight" rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and an average price target of $426.77.

Insiders Place Their Bets

In related 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 transaction of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction on 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 transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents 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 Stock Performance

Shares of NYSE:HD traded up $1.60 on Friday, hitting $387.77. 2,326,668 shares of the company were exchanged, compared to its average volume of 3,127,176. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The stock's 50 day moving average price is $367.64 and its 200 day moving average price is $372.52. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The firm has a market capitalization of $385.80 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 3.67 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 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 company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. The company's quarterly revenue was up 9.4% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current 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 given a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. Home Depot's payout ratio is currently 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.