Elefante Mark B Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Elefante Mark B has increased its stake in The Home Depot by 10.6%, now holding 9,834 shares valued at approximately $3.6 million.
• The consensus rating for Home Depot is a "Moderate Buy", with an average target price of $426.77 based on analyst ratings.
• Home Depot declared a quarterly dividend of $2.30 per share, yielding approximately 2.45% annually.

Elefante Mark B raised its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,834 shares of the home improvement retailer's stock after buying an additional 941 shares during the period. Home Depot makes up approximately 2.9% of Elefante Mark B's portfolio, making the stock its 16th largest position. Elefante Mark B's holdings in Home Depot were worth $3,604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Navigoe LLC purchased a new stake in Home Depot in the fourth quarter valued at $29,000. Abound Financial LLC purchased a new stake in shares of Home Depot in the first quarter valued at about $31,000. Iron Horse Wealth Management LLC raised its holdings 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 during the last quarter. Quarry LP raised its holdings in shares of Home Depot by 220.0% in the fourth 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 last quarter. Finally, Quest 10 Wealth Builders Inc. raised its holdings in shares of Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after buying an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Shares of HD stock traded up $5.10 during trading hours on Monday, hitting $380.44. The company's stock had a trading volume of 1,431,764 shares, compared to its average volume of 3,537,461. The business has a fifty day moving average of $365.59 and a 200-day moving average of $373.75. The stock has a market cap of $378.51 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 3.57 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

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

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.42%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Analyst Ratings Changes

HD has been the subject of a number of research reports. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. DA Davidson reduced their target price on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, May 21st. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Finally, TD Securities lowered shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $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 SEC, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. The trade was 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.