Condor Capital Management Sells 2,594 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Condor Capital Management reduced its holdings in Home Depot by 16.5%, selling 2,594 shares, which brought their total to 13,145 shares valued at approximately $4.8 million.
• Several large investors increased their stakes, with Asset Planning Services Inc. significantly lifting theirs by 99,400.7% this quarter, now holding 18,975,772 shares worth nearly $6.95 billion.
• Home Depot reported a quarterly EPS of $3.56, slightly missing the estimate, while revenue reached $39.86 billion, exceeding forecasts by $620 million.

Condor Capital Management reduced its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 16.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,145 shares of the home improvement retailer's stock after selling 2,594 shares during the quarter. Condor Capital Management's holdings in Home Depot were worth $4,818,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Navigoe LLC bought a new stake in shares of Home Depot during the 4th quarter worth $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the 1st quarter worth $31,000. Quarry LP boosted its stake 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 worth $37,000 after acquiring an additional 66 shares in the last quarter. Iron Horse Wealth Management LLC boosted its stake in shares of 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 worth $36,000 after acquiring an additional 46 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its stake in shares of 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. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 2.2%

HD traded up $8.54 during trading on Tuesday, reaching $396.07. 2,909,282 shares of the stock traded hands, compared to its average volume of 3,502,985. The stock has a market cap of $394.06 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. 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 stock's 50-day simple moving average is $368.04 and its two-hundred day simple moving average is $371.78.

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 for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the prior year, the firm earned $3.63 EPS. Home Depot's quarterly revenue was up 9.4% on a year-over-year basis. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.3%. Home Depot's payout ratio is currently 62.42%.

Analysts Set New Price Targets

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. Royal Bank Of Canada reduced their price objective on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a research note on Thursday, May 15th. Morgan Stanley reissued an "overweight" rating and set a $415.00 price objective (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Finally, Gordon Haskett lifted their price target on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president directly owned 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 SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot 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 owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.