Townsquare Capital LLC Purchases 5,874 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Townsquare Capital LLC increased its stock position in The Home Depot by 7.4% in Q1, owning a total of 85,362 shares valued at $31.28 million.
• Several investment firms, including Brighton Jones LLC, Bank Pictet & Cie Europe AG, and FIL Ltd, have also raised their stakes in The Home Depot during the recent quarters, reflecting increasing institutional interest.
• The Home Depot recently declared a quarterly dividend of $2.30 per share, representing a yield of 2.4% with a payout ratio of approximately 62.42%.

Townsquare Capital LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 85,362 shares of the home improvement retailer's stock after acquiring an additional 5,874 shares during the period. Townsquare Capital LLC's holdings in Home Depot were worth $31,284,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. purchased a new position in Home Depot in the 1st quarter worth about $406,000. Wealth Management Partners LLC grew its stake in Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after acquiring an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV grew its stake in Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after acquiring an additional 221 shares in the last quarter. ARS Wealth Advisors Group LLC grew its stake in Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock valued at $11,628,000 after acquiring an additional 239 shares in the last quarter. Finally, Tabor Asset Management LP purchased a new position in Home Depot during the 1st quarter valued at about $5,886,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

HD traded up $1.60 on Friday, hitting $387.77. The company had a trading volume of 2,326,668 shares, compared to its average volume of 3,127,176. The company's fifty day moving average price is $367.64 and its 200 day moving average price is $372.26. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year 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 has a market cap of $385.80 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 during the quarter, compared to analyst estimates of $39.24 billion. During the same quarter last year, the firm posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm 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. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Finally, Royal Bank Of Canada lowered their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $426.77.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on 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 of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. 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 Home Depot stock in a transaction that occurred on 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 directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.