Signet Financial Management LLC Has $2.26 Million Position in The Home Depot, Inc. (NYSE:HD)

Signet Financial Management LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 14.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,158 shares of the home improvement retailer's stock after selling 1,074 shares during the quarter. Signet Financial Management LLC's holdings in Home Depot were worth $2,257,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HD. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter worth $5,032,910,000. GAMMA Investing LLC grew its holdings in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC increased its stake in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on HD. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and increased their target price for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. TD Securities cut Home Depot to a "buy" rating in a research note on Monday, June 2nd. Robert W. Baird decreased their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Telsey Advisory Group restated an "outperform" rating on shares of Home Depot in a report on Monday, June 2nd. Finally, Gordon Haskett increased their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

HD stock traded up $2.95 during mid-day trading on Tuesday, reaching $368.15. 3,014,068 shares of the stock traded hands, compared to its average volume of 3,408,063. The firm has a market capitalization of $366.28 billion, a PE ratio of 25.01, a P/E/G ratio of 4.03 and a beta of 1.02. The business has a 50-day moving average of $361.51 and a two-hundred day moving average of $384.05. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last announced 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). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.63 EPS. As a group, equities analysts predict 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 will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is currently 62.42%.

Insider Activity at Home Depot

In related 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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president now directly owns 17,367 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

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.