Signature Wealth Management Group reduced its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,903 shares of the home improvement retailer’s stock after selling 2,745 shares during the period. Home Depot makes up 1.9% of Signature Wealth Management Group’s portfolio, making the stock its 14th biggest holding. Signature Wealth Management Group’s holdings in Home Depot were worth $4,103,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. AE Wealth Management LLC grew its position in shares of Home Depot by 4.0% during the 1st quarter. AE Wealth Management LLC now owns 159,654 shares of the home improvement retailer’s stock valued at $47,117,000 after purchasing an additional 6,104 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in Home Depot in the first quarter worth $5,666,000. Transform Wealth LLC grew its position in Home Depot by 28.7% in the first quarter. Transform Wealth LLC now owns 44,702 shares of the home improvement retailer’s stock worth $13,193,000 after acquiring an additional 9,959 shares in the last quarter. Oak Asset Management LLC grew its position in Home Depot by 0.7% in the first quarter. Oak Asset Management LLC now owns 9,429 shares of the home improvement retailer’s stock worth $2,783,000 after acquiring an additional 62 shares in the last quarter. Finally, JGP Wealth Management LLC grew its position in Home Depot by 2.8% in the first quarter. JGP Wealth Management LLC now owns 11,663 shares of the home improvement retailer’s stock worth $3,442,000 after acquiring an additional 314 shares in the last quarter. 69.91% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Home Depot news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total value of $440,221.18. Following the sale, the executive vice president now owns 13,958 shares in the company, valued at $4,090,950.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.
Home Depot Price Performance
Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings data on Tuesday, May 16th. The home improvement retailer reported $3.82 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. The business had revenue of $37.26 billion for the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a net margin of 10.75% and a return on equity of 1,936.63%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.09 earnings per share. On average, sell-side analysts forecast that The Home Depot, Inc. will post 14.97 EPS for the current year.
Home Depot Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were issued a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend was Wednesday, May 31st. Home Depot’s dividend payout ratio (DPR) is presently 50.94%.
Analysts Set New Price Targets
Several research analysts recently issued reports on HD shares. Sanford C. Bernstein cut their target price on shares of Home Depot from $333.00 to $314.00 in a research report on Wednesday, May 17th. Loop Capital upped their price target on shares of Home Depot from $280.00 to $300.00 in a research report on Wednesday, June 14th. Credit Suisse Group cut their price target on shares of Home Depot from $320.00 to $310.00 in a research report on Wednesday, May 17th. StockNews.com initiated coverage on shares of Home Depot in a research report on Thursday, May 18th. They set a “hold” rating for the company. Finally, Wedbush cut their price target on shares of Home Depot from $300.00 to $290.00 in a research report on Wednesday, May 17th. Twelve analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $323.43.
Home Depot 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.
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