West Oak Capital LLC Acquires 47 Shares of The Home Depot, Inc. (NYSE:HD)

West Oak Capital LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,060 shares of the home improvement retailer’s stock after acquiring an additional 47 shares during the period. Home Depot comprises 1.5% of West Oak Capital LLC’s holdings, making the stock its 17th biggest position. West Oak Capital LLC’s holdings in Home Depot were worth $3,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Research Global Investors boosted its holdings in shares of Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Home Depot by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after purchasing an additional 347,614 shares during the period. Norges Bank acquired a new position in Home Depot in the 4th quarter valued at $4,311,070,000. Fisher Asset Management LLC increased its position in Home Depot by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after buying an additional 195,670 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Home Depot by 1.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,465,972 shares of the home improvement retailer’s stock worth $2,240,783,000 after buying an additional 82,672 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of Home Depot stock opened at $334.97 on Wednesday. The stock has a market cap of $332.16 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.38 and a beta of 0.99. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company’s fifty day moving average is $338.51 and its 200 day moving average is $352.69. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.02. The company had revenue of $36.42 billion during 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 was down 2.3% compared to the same quarter last year. During the same period last year, the company earned $3.82 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the business’s 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 transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Bank of America raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. TD Cowen cut their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company lowered their price objective 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. Citigroup cut their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, HSBC dropped their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

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.