True North Advisors LLC Sells 1,226 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• True North Advisors LLC reduced its stake in Home Depot by 11.8%, selling 1,226 shares and now holding 9,144 shares worth approximately $3.35 million.
• Several institutional investors have recently increased their positions in Home Depot, with Brighton Jones LLC boosting its holdings by 36.5% during the last quarter.
• Home Depot reported a 3.56 EPS for the last quarter, missing expectations, but still achieved a revenue of $39.86 billion, exceeding analyst forecasts.

True North Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 11.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,144 shares of the home improvement retailer's stock after selling 1,226 shares during the quarter. True North Advisors LLC's holdings in Home Depot were worth $3,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Navigoe LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $29,000. Abound Financial LLC bought a new stake in shares of Home Depot during the first quarter valued at approximately $31,000. Iron Horse Wealth Management LLC increased its holdings in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after acquiring an additional 46 shares in the last quarter. Quarry LP increased its holdings in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. increased its holdings in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of NYSE HD traded up $0.07 during trading on Monday, reaching $387.92. 2,605,021 shares of the stock traded hands, compared to its average volume of 3,090,072. The company has a 50-day moving average of $368.04 and a 200-day moving average of $371.78. The stock has a market capitalization of $385.95 billion, a P/E ratio of 26.32, a price-to-earnings-growth ratio of 3.69 and a beta of 1.00. 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 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last issued 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 analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company posted $3.63 EPS. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. Gordon Haskett boosted their price objective on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. JPMorgan Chase & Co. upped their price target on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Guggenheim reiterated a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Finally, Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and upped their price target for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the 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 transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 transaction, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. This trade represents 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 corporate insiders.

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.