Brookstone Capital Management Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Brookstone Capital Management reduced its position in The Home Depot, Inc. (NYSE:HD) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,896 shares of the home improvement retailer’s stock after selling 2,700 shares during the quarter. Brookstone Capital Management’s holdings in Home Depot were worth $11,468,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bare Financial Services Inc purchased a new stake in shares of Home Depot in the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $27,000. Keener Financial Planning LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC increased its stake in shares of Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in Home Depot during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HD shares. UBS Group reduced their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Tuesday, May 14th. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Mizuho began coverage on shares of Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. Finally, Evercore ISI upped their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

NYSE HD opened at $341.49 on Friday. The company has a 50-day moving average price of $338.15 and a 200-day moving average price of $352.59. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The firm has a market capitalization of $338.62 billion, a P/E ratio of 22.90, a PEG ratio of 2.36 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm’s revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.82 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.64%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.