SteelPeak Wealth LLC Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

SteelPeak Wealth LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 2.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,898 shares of the home improvement retailer’s stock after selling 514 shares during the quarter. SteelPeak Wealth LLC’s holdings in Home Depot were worth $9,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bare Financial Services Inc purchased a new stake in Home Depot during the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot during the 4th quarter valued at $27,000. Keener Financial Planning LLC purchased a new stake in Home Depot during the 4th quarter valued at $31,000. PFG Private Wealth Management LLC boosted its stake in Home Depot by 53.3% during the 4th 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 last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Home Depot during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, 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 is available at this hyperlink. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on HD. Wells Fargo & Company cut their target price on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research note on Thursday, May 9th. Bank of America increased their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Tuesday, May 14th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Trading Up 0.8 %

Shares of Home Depot stock opened at $344.24 on Monday. The firm has a market cap of $341.35 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 2.38 and a beta of 0.99. The business has a 50-day moving average price of $338.51 and a 200-day moving average price of $352.80. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.82 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Home Depot 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.