Kimelman & Baird LLC Sells 1,241 Shares of The Home Depot, Inc. $HD

Key Points

• Kimelman & Baird LLC reduced its stake in Home Depot by 1.0% in Q1, now holding 118,532 shares valued at approximately $43.4 million, making it the firm's 10th largest position.
• Recent analyst ratings show a consensus of "Moderate Buy" for Home Depot, with a target price of $427.48, reflecting positive sentiment despite a minor earnings miss in the latest quarterly results.
• Home Depot declared a quarterly dividend of $2.30 per share, resulting in an annualized dividend of $9.20 and a yield of 2.3%.

Kimelman & Baird LLC lessened its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,532 shares of the home improvement retailer's stock after selling 1,241 shares during the period. Home Depot comprises 3.7% of Kimelman & Baird LLC's portfolio, making the stock its 10th largest holding. Kimelman & Baird LLC's holdings in Home Depot were worth $43,441,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HD. Navigoe LLC acquired a new stake in Home Depot during the fourth quarter worth about $29,000. Abound Financial LLC purchased a new stake in Home Depot during the first quarter worth approximately $31,000. Iron Horse Wealth Management LLC grew its stake in shares of Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after buying an additional 46 shares in the last quarter. Quarry LP raised its holdings in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares during the period. Finally, Quest 10 Wealth Builders Inc. lifted its position in Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In other Home Depot news, 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 directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Gordon Haskett upped their price objective on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Jefferies Financial Group cut their price target on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, August 13th. Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 target price (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, TD Securities lowered Home Depot to a "buy" rating in a research report on Monday, June 2nd. Six analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $427.76.

Home Depot Price Performance

NYSE:HD traded down $4.70 during mid-day trading on Monday, reaching $394.68. 4,392,635 shares of the company were exchanged, compared to its average volume of 3,142,359. 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 has a market cap of $392.68 billion, a PE ratio of 26.78, a PEG ratio of 3.80 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The company has a fifty day moving average of $370.47 and a 200 day moving average of $371.31.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results 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 net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period last year, the company earned $3.63 earnings per share. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research 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 dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is presently 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.