Spirit of America Management Corp NY trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 16.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,038 shares of the home improvement retailer’s stock after selling 1,200 shares during the quarter. Spirit of America Management Corp NY’s holdings in Home Depot were worth $1,782,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. acquired a new stake in shares of Home Depot in the first quarter valued at about $27,000. Glassy Mountain Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at about $30,000. Studio Investment Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. Align Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $30,000. Finally, EWG Elevate Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at about $36,000. 69.91% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on HD. 92 Resources restated a “maintains” rating on shares of Home Depot in a research note on Wednesday, May 17th. The Goldman Sachs Group cut their price target on shares of Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Credit Suisse Group cut their target price on shares of Home Depot from $320.00 to $310.00 in a research note on Wednesday, May 17th. TheStreet cut shares of Home Depot from a “b” rating to a “c+” rating in a research note on Tuesday, May 16th. Finally, Citigroup cut their target price on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. Thirteen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $323.43.
Insider Activity at Home Depot
Home Depot Stock Performance
Shares of NYSE:HD opened at $301.19 on Friday. The company’s 50 day moving average price is $294.48 and its two-hundred day moving average price is $303.80. The Home Depot, Inc. has a 12-month low of $265.61 and a 12-month high of $347.25. The firm has a market cap of $302.81 billion, a PE ratio of 18.35, a PEG ratio of 1.93 and a beta of 0.93. The company has a quick ratio of 0.28, a current ratio of 1.27 and a debt-to-equity ratio of 113.02.
Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The firm had revenue of $37.26 billion for the quarter, compared to analyst estimates of $38.35 billion. During the same quarter in the prior year, the business posted $4.09 EPS. The business’s revenue was down 4.2% compared to the same quarter last year. Equities research analysts predict that The Home Depot, Inc. will post 14.97 earnings per share for the current year.
Home Depot Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $2.09 dividend. This represents a $8.36 annualized dividend and a yield of 2.78%. The ex-dividend date was Wednesday, May 31st. Home Depot’s payout ratio is 50.94%.
Home Depot Company Profile
The Home Depot, Inc operates as a home improvement retailer. 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.
Featured Stories
- Get a free research report on Home Depot from StockNews.com
- Mastering Discipline: Overcoming Emotional Challenges In Trading
- Darden Restaurants: Ring The Register Or Time To Buy?
- United Airlines: Cleared For Takeoff As It Approaches Buy Point?
- KB Home Hits Peak: Pullback Imminent
- Five stocks we like better than Home Depot
Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Get Rating).
Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.
