Signaturefd LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Signaturefd LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,663 shares of the home improvement retailer’s stock after selling 1,295 shares during the period. Signaturefd LLC’s holdings in Home Depot were worth $18,284,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HD. Integris Wealth Management LLC purchased a new position in Home Depot in the first quarter worth about $238,000. Embree Financial Group purchased a new position in Home Depot in the first quarter worth about $232,000. Carson Advisory Inc. boosted its position in Home Depot by 0.5% in the first quarter. Carson Advisory Inc. now owns 6,618 shares of the home improvement retailer’s stock worth $2,539,000 after purchasing an additional 30 shares during the last quarter. Catalina Capital Group LLC boosted its position in Home Depot by 61.2% in the first quarter. Catalina Capital Group LLC now owns 5,618 shares of the home improvement retailer’s stock worth $2,155,000 after purchasing an additional 2,133 shares during the last quarter. Finally, Avidian Wealth Solutions LLC boosted its position in Home Depot by 3.1% in the first quarter. Avidian Wealth Solutions LLC now owns 14,261 shares of the home improvement retailer’s stock worth $5,471,000 after purchasing an additional 432 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $353.71 on Friday. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock has a market capitalization of $350.74 billion, a price-to-earnings ratio of 23.72, a P/E/G ratio of 2.38 and a beta of 0.98. The stock has a fifty day simple moving average of $339.19 and a two-hundred day simple moving average of $352.02. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

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

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is 60.36%.

Insider Buying and Selling

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Guggenheim reaffirmed a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Tuesday, May 14th. Evercore ISI raised their price objective on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Citigroup decreased their price objective on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. Finally, Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.42.

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.