Carret Asset Management LLC Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Carret Asset Management LLC lessened its position in The Home Depot, Inc. (NYSE:HD) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,247 shares of the home improvement retailer’s stock after selling 106 shares during the quarter. Carret Asset Management LLC’s holdings in Home Depot were worth $6,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors raised its holdings in shares of Home Depot by 7.2% in the 4th 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 buying an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Home Depot by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after buying an additional 347,614 shares during the period. Norges Bank purchased a new stake in shares of Home Depot in the 4th quarter valued at $4,311,070,000. Fisher Asset Management LLC raised its holdings in shares of Home Depot by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock valued at $3,050,363,000 after buying an additional 195,670 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 1.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,465,972 shares of the home improvement retailer’s stock worth $2,240,783,000 after purchasing an additional 82,672 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.4 %

Home Depot stock opened at $333.58 on Thursday. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock has a 50 day moving average of $338.43 and a two-hundred day moving average of $352.56. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a market capitalization of $330.78 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.31 and a beta of 0.98.

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

Home Depot Announces Dividend

The firm also recently announced 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. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. TD Cowen cut their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Citigroup cut their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Wells Fargo & Company cut their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Evercore ISI upped their price target on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Finally, UBS Group cut their price target on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $378.42.

Insider Transactions at Home Depot

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