Scissortail Wealth Management LLC Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Scissortail Wealth Management LLC decreased its stake in The Home Depot by 4.5%, now holding 13,860 shares valued at approximately $5.08 million, making it the company's 25th largest holding.
• Home Depot reported earnings per share of $3.56 for the most recent quarter, slightly missing expectations, but revenue increased by 9.4% year-over-year, reaching $39.86 billion.
• The company also declared a quarterly dividend of $2.30 per share, with a current annualized dividend yield of 2.4%, reflecting a payout ratio of 62.42%.

Scissortail Wealth Management LLC cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,860 shares of the home improvement retailer's stock after selling 648 shares during the quarter. Home Depot accounts for 1.3% of Scissortail Wealth Management LLC's portfolio, making the stock its 25th biggest holding. Scissortail Wealth Management LLC's holdings in Home Depot were worth $5,080,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HD. Brighton Jones LLC raised its holdings in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after acquiring an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after acquiring an additional 565 shares during the last quarter. Petros Family Wealth LLC acquired a new position in shares of Home Depot in the fourth quarter worth $685,000. Rockefeller Capital Management L.P. raised its holdings in shares of Home Depot by 2.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 635,859 shares of the home improvement retailer's stock worth $247,330,000 after acquiring an additional 15,186 shares during the last quarter. Finally, Manhattan West Asset Management LLC raised its holdings in shares of Home Depot by 19.4% in the fourth quarter. Manhattan West Asset Management LLC now owns 826 shares of the home improvement retailer's stock worth $321,000 after acquiring an additional 134 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of NYSE HD opened at $387.77 on Friday. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The business has a 50-day moving average of $367.64 and a 200-day moving average of $372.26. 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 company has a market capitalization of $385.80 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.69 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its 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 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the previous year, the company earned $3.63 EPS. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. Home Depot's dividend payout ratio is presently 62.42%.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business'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 owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TD Securities lowered Home Depot to a "buy" rating in a research note on Monday, June 2nd. Robert W. Baird dropped their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Guggenheim reiterated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Gordon Haskett upped their target price on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company set a $420.00 target price on Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. 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, the stock presently has an average rating of "Moderate Buy" and an average price target 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.

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