Tevis Investment Management Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Tevis Investment Management lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 26.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,982 shares of the home improvement retailer’s stock after selling 1,055 shares during the quarter. Tevis Investment Management’s holdings in Home Depot were worth $1,144,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Bare Financial Services Inc bought a new position in Home Depot during the fourth quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new position in Home Depot in the fourth quarter worth about $27,000. Keener Financial Planning LLC bought a new stake in Home Depot during the fourth quarter worth approximately $31,000. PFG Private Wealth Management LLC raised its position in Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $35,000. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on HD shares. DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and boosted their target price for the company from $352.00 to $395.00 in a research report on Wednesday. HSBC reduced their target price on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. TD Cowen cut their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Tuesday, May 14th. Finally, StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Home Depot Stock Up 0.8 %

HD stock opened at $344.24 on Friday. The company has a market capitalization of $341.35 billion, a P/E ratio of 23.09, a price-to-earnings-growth ratio of 2.36 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The firm’s fifty day simple moving average is $338.51 and its 200-day simple moving average is $352.74. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. The company had revenue of $36.42 billion for the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period last year, the firm earned $3.82 EPS. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is presently 60.36%.

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.