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

Steele Capital Management Inc. decreased its position in The Home Depot, Inc. (NYSE:HD) by 7.0% in the first quarter, Holdings Channel reports. The firm owned 1,150 shares of the home improvement retailer’s stock after selling 86 shares during the period. Steele Capital Management Inc.’s holdings in Home Depot were worth $441,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Home Depot during the fourth quarter worth $4,311,070,000. International Assets Investment Management LLC boosted its holdings in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the last quarter. Jennison Associates LLC boosted its holdings in Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after purchasing an additional 1,207,388 shares during the last quarter. Capital Research Global Investors boosted its holdings in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in Home Depot by 38.9% in the fourth quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock valued at $613,258,000 after purchasing an additional 495,894 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HD shares. Guggenheim reissued a “buy” rating and set a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. UBS Group cut their price objective on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. Citigroup cut their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Tuesday, May 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Trading Down 0.2 %

NYSE HD opened at $335.63 on Tuesday. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The firm has a market cap of $332.81 billion, a PE ratio of 22.55, a P/E/G ratio of 2.38 and a beta of 0.99. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm’s fifty day moving average is $338.51 and its two-hundred day moving average is $352.80.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. During the same period in the previous year, the business posted $3.82 earnings per share. Home Depot’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.68%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

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.