The Home Depot, Inc. (NYSE:HD) is Tower View Wealth Management LLC’s 10th Largest Position

Tower View Wealth Management LLC reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,525 shares of the home improvement retailer’s stock after selling 142 shares during the quarter. Home Depot accounts for 3.3% of Tower View Wealth Management LLC’s portfolio, making the stock its 10th largest position. Tower View Wealth Management LLC’s holdings in Home Depot were worth $5,690,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wealth Group Ltd. lifted its position in shares of Home Depot by 5.0% during the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick acquired a new stake in Home Depot in the fourth quarter valued at $281,000. Capital & Planning LLC raised its holdings in Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 563 shares in the last quarter. Ironwood Wealth Management LLC. raised its holdings in Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after acquiring an additional 32 shares in the last quarter. Finally, Brighton Jones LLC raised its holdings in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on HD shares. TD Securities cut shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $405.00 to $425.00 in a report on Wednesday, May 21st. Mizuho cut their price target on shares of Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $350.21 on Friday. The company has a 50 day simple moving average of $362.65 and a 200-day simple moving average of $380.08. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a market capitalization of $348.44 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.30 and a beta of 1.02. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 earnings per share. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

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.