Gallacher Capital Management LLC Sells 297 Shares of The Home Depot, Inc. (NYSE:HD)

Gallacher Capital Management LLC lessened its position in The Home Depot, Inc. (NYSE:HD) by 15.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,668 shares of the home improvement retailer’s stock after selling 297 shares during the quarter. Gallacher Capital Management LLC’s holdings in Home Depot were worth $640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bey Douglas LLC bought a new stake in Home Depot during the 4th quarter valued at about $913,000. Hartline Investment Corp raised its holdings in shares of Home Depot by 3.0% in the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after purchasing an additional 460 shares in the last quarter. Wolf Group Capital Advisors raised its holdings in shares of Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after purchasing an additional 430 shares in the last quarter. Alliance Wealth Management Group bought a new stake in shares of Home Depot in the 4th quarter valued at about $253,000. Finally, Zullo Investment Group Inc. raised its holdings in shares of Home Depot by 6.6% in the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after purchasing an additional 504 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were 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 of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Home Depot stock opened at $359.77 on Friday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The firm has a market capitalization of $356.75 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.44 and a beta of 0.98. The company has a fifty day simple moving average of $339.52 and a 200-day simple moving average of $352.10. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same quarter in the prior year, the firm earned $3.82 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. UBS Group reduced their price target 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. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Finally, Citigroup cut their price objective on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.