Procyon Advisors LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Procyon Advisors LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,038 shares of the home improvement retailer's stock after buying an additional 866 shares during the period. Home Depot makes up approximately 0.8% of Procyon Advisors LLC's holdings, making the stock its 29th largest position. Procyon Advisors LLC's holdings in Home Depot were worth $12,841,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the 4th quarter worth $28,000. Navigoe LLC purchased a new position in Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at about $32,000. Quarry LP boosted its holdings in Home Depot by 220.0% in 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, Marshall Investment Management LLC acquired a new position in Home Depot during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business'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 value of $1,996,327.68. Following the completion of the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wells Fargo & Company reduced their price target on Home Depot from $445.00 to $420.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Gordon Haskett increased their price objective on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Royal Bank of Canada decreased their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Jefferies Financial Group lowered their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Finally, KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Home Depot Price Performance

Home Depot stock traded down $1.83 during midday trading on Friday, reaching $367.45. 2,347,724 shares of the company were exchanged, compared to its average volume of 3,409,495. The firm's 50-day simple moving average is $361.58 and its 200-day simple moving average is $384.99. The Home Depot, Inc. has a 1 year low of $323.93 and a 1 year high of $439.37. The company has a market capitalization of $365.59 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD - Get Free Report) last issued 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). The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.63 earnings per share. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

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.