The Home Depot, Inc. (NYSE:HD) Shares Purchased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services LLC increased its stake in The Home Depot by 1.7%, owning 696,688 shares valued at approximately $255.3 million as of the latest SEC filing.
• Home Depot reported quarterly earnings of $3.56 per share, which fell slightly short of the consensus estimate of $3.59, though revenue increased by 9.4% year-over-year to $39.86 billion.
• The company recently declared a quarterly dividend of $2.30 per share, translating to an annualized dividend of $9.20, with a yield of 2.5% and a payout ratio of 62.42%.

Commonwealth Equity Services LLC boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 696,688 shares of the home improvement retailer's stock after acquiring an additional 11,439 shares during the quarter. Commonwealth Equity Services LLC owned 0.07% of Home Depot worth $255,329,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Navigoe LLC bought a new position in Home Depot during the 4th quarter valued at $29,000. Abound Financial LLC bought a new position in Home Depot during the 1st quarter valued at $31,000. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Quarry LP boosted its stake in 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 purchasing an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake 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 valued at $42,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Trading Up 1.6%

Shares of HD stock opened at $373.55 on Friday. The firm has a 50 day moving average price of $365.84 and a two-hundred day moving average price of $373.17. 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 company has a market capitalization of $371.66 billion, a PE ratio of 25.34, a price-to-earnings-growth ratio of 3.55 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.

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

Home Depot Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on HD shares. Sanford C. Bernstein reissued a "market perform" rating and set a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Monday, June 30th. Mizuho reduced their price objective 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. JPMorgan Chase & Co. raised their price objective on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird reduced their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Transactions at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction dated 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 corporate insiders.

Home Depot 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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