TCW Group Inc. Sells 45,708 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• TCW Group Inc. reduced its ownership in The Home Depot, Inc. by 74.4%, selling 45,708 shares and holding 15,763 shares valued at $5,777,000 as of the recent quarter.
• Home Depot's quarterly earnings reported $3.56 EPS, missing estimates by $0.03, while revenue increased 9.4% year-over-year to $39.86 billion.
• The company announced a quarterly dividend of $2.30 per share, resulting in an annualized dividend yield of 2.45%.

TCW Group Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 74.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,763 shares of the home improvement retailer's stock after selling 45,708 shares during the period. TCW Group Inc.'s holdings in Home Depot were worth $5,777,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new stake in shares of Home Depot during the first quarter valued at approximately $406,000. Wealth Management Partners LLC boosted its holdings in shares of Home Depot by 0.6% during the 1st 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 in the last quarter. Arbor Capital Management Inc. ADV grew its position in shares of Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after buying an additional 221 shares during the period. Disciplined Investors L.L.C. bought a new position in shares of Home Depot in the 4th quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC lifted its position in Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock valued at $11,628,000 after acquiring an additional 239 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was 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 owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business'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 in the company, 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. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Mizuho cut their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. DA Davidson cut their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. Finally, TD Securities downgraded Home Depot to a "buy" rating in a report on Monday, June 2nd. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Price Performance

Shares of Home Depot stock opened at $375.17 on Monday. The company has a market capitalization of $373.27 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 3.57 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock's 50-day simple moving average is $365.59 and its 200-day simple moving average is $373.75. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the prior year, the firm posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business 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 of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot's dividend payout ratio is 62.42%.

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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