Sunpointe LLC Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Sunpointe LLC reduced its stake in The Home Depot by 30.3%, now owning 2,013 shares worth approximately $738,000.
• Home Depot's recent earnings report showed EPS of $3.56, missing estimates by $0.03, but revenue increased by 9.4% year-over-year.
• Analysts are bullish on Home Depot, with many upgrading their ratings and raising target prices, leading to a **consensus rating of "Moderate Buy"** and target price of $426.77.

Sunpointe LLC trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 30.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,013 shares of the home improvement retailer's stock after selling 877 shares during the period. Sunpointe LLC's holdings in Home Depot were worth $738,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Brighton Jones LLC lifted its holdings in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after buying an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Home Depot by 4.9% during 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 purchasing an additional 565 shares during the last quarter. New Age Alpha Advisors LLC raised its stake in Home Depot by 8,807.1% in the 4th quarter. New Age Alpha Advisors LLC now owns 2,494 shares of the home improvement retailer's stock worth $970,000 after purchasing an additional 2,466 shares in the last quarter. American Money Management LLC increased its holdings in Home Depot by 10.2% in the fourth quarter. American Money Management LLC now owns 23,865 shares of the home improvement retailer's stock valued at $9,283,000 after purchasing an additional 2,208 shares during the period. Finally, Schroder Investment Management Group grew its position in shares of Home Depot by 5.1% during the 4th quarter. Schroder Investment Management Group now owns 1,474,269 shares of the home improvement retailer's stock worth $574,125,000 after buying an additional 71,364 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Trading Down 1.0%

NYSE HD traded down $3.85 on Thursday, reaching $368.23. The company had a trading volume of 1,235,123 shares, compared to its average volume of 3,533,002. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. 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 business has a 50 day moving average of $365.60 and a two-hundred day moving average of $373.68. The firm has a market cap of $366.37 billion, a price-to-earnings ratio of 25.00, a P/E/G ratio of 3.59 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% on a year-over-year basis. During the same period last year, the business posted $3.63 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

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 $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a report on Thursday, May 22nd. Royal Bank Of Canada reduced 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 research report on Thursday, May 15th. JPMorgan Chase & Co. increased their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Finally, Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and lifted their price objective for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insiders Place Their Bets

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the 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 directly 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.