Pineridge Advisors LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Pineridge Advisors LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 1,497 shares of the home improvement retailer’s stock, valued at approximately $519,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HD. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the 4th quarter valued at approximately $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $27,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC raised its position in shares of 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 worth $32,000 after purchasing an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $35,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on HD shares. Wells Fargo & Company reduced their price target 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 dropped their price objective on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. HSBC dropped their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. DA Davidson reiterated a “neutral” rating and issued a $370.00 price target on shares of Home Depot in a report on Monday, April 1st. Finally, Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $377.46.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot 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 completion of the sale, the executive vice president now 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 is available at this link. Company insiders own 0.10% of the company’s stock.

Home Depot Trading Down 0.3 %

Home Depot stock traded down $1.04 during midday trading on Friday, reaching $346.84. The stock had a trading volume of 2,588,960 shares, compared to its average volume of 3,346,942. The firm’s fifty day simple moving average is $337.58 and its two-hundred day simple moving average is $351.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm has a market cap of $343.93 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.39 and a beta of 1.00.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 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.