Cary Street Partners Financial LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Cary Street Partners Financial LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,547 shares of the home improvement retailer’s stock after purchasing an additional 1,639 shares during the period. Cary Street Partners Financial LLC’s holdings in Home Depot were worth $20,357,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Financial Gravity Asset Management Inc. purchased a new position in shares of Home Depot in the 1st quarter valued at $406,000. Wealth Management Partners LLC grew its position in shares of Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after buying an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV grew its position in shares of Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after buying an additional 221 shares during the last quarter. ARS Wealth Advisors Group LLC grew its position in shares of Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after buying an additional 239 shares during the last quarter. Finally, Tabor Asset Management LP purchased a new position in shares of Home Depot in the 1st quarter valued at $5,886,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 2.0%

HD stock opened at $380.98 on Tuesday. The company has a fifty day moving average of $366.19 and a 200-day moving average of $372.71. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The stock has a market capitalization of $379.05 billion, a PE ratio of 25.85, a price-to-earnings-growth ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD) last announced 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 net margin of 8.98% and a return on equity of 242.51%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.63 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on HD shares. Gordon Haskett increased their target price on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Monday, June 30th. Royal Bank Of Canada dropped their target price on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the company an “overweight” rating in a research report on Monday, June 30th. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

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.