IFG Advisory LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• IFG Advisory LLC increased its stake in The Home Depot by 4.2%, owning 18,940 shares valued at approximately $6.94 million.
• Home Depot reported a missing earnings estimate for the quarter, with $3.56 EPS compared to the expected $3.59, although revenue surpassed expectations at $39.86 billion.
• The company has declared a quarterly dividend of $2.30, which translates to an annual yield of 2.5% and a payout ratio of 62.42%.

IFG Advisory LLC grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,940 shares of the home improvement retailer's stock after purchasing an additional 766 shares during the quarter. IFG Advisory LLC's holdings in Home Depot were worth $6,941,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. TIAA Trust National Association boosted its stake in shares of Home Depot by 4.7% in the first quarter. TIAA Trust National Association now owns 97,999 shares of the home improvement retailer's stock valued at $35,916,000 after buying an additional 4,409 shares during the period. Asset Planning Inc boosted its stake in shares of Home Depot by 6.3% in the first quarter. Asset Planning Inc now owns 1,874 shares of the home improvement retailer's stock valued at $687,000 after buying an additional 111 shares during the period. Mullooly Asset Management Inc. bought a new stake in shares of Home Depot in the first quarter valued at approximately $1,664,000. UNIVEST FINANCIAL Corp boosted its stake in shares of Home Depot by 1.6% in the first quarter. UNIVEST FINANCIAL Corp now owns 19,753 shares of the home improvement retailer's stock valued at $7,239,000 after buying an additional 311 shares during the period. Finally, Baker Avenue Asset Management LP lifted its stake in Home Depot by 6.1% during the first quarter. Baker Avenue Asset Management LP now owns 28,855 shares of the home improvement retailer's stock worth $10,575,000 after purchasing an additional 1,652 shares during 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 Home Depot 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 owned 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on HD. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and upped their target price for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Jefferies Financial Group cut their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Mizuho cut their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Finally, TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Home Depot Stock Up 2.0%

Shares of HD stock traded up $7.32 on Monday, reaching $380.98. 2,843,316 shares of the company were exchanged, compared to its average volume of 3,228,696. The company has a market cap of $379.05 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 3.55 and a beta of 1.00. The company has a 50-day moving average of $365.84 and a 200-day moving average of $372.91. 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 Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

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

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

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.