Martin Capital Partners LLC Cuts Position in The Home Depot, Inc. (NYSE:HD)

Martin Capital Partners LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 16,350 shares of the home improvement retailer’s stock after selling 220 shares during the quarter. Home Depot comprises about 2.4% of Martin Capital Partners LLC’s portfolio, making the stock its 17th largest holding. Martin Capital Partners LLC’s holdings in Home Depot were worth $6,272,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HD. Bey Douglas LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $913,000. Hartline Investment Corp increased its holdings in shares of Home Depot by 3.0% in the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after acquiring an additional 460 shares during the period. Wolf Group Capital Advisors increased its holdings in shares of Home Depot by 6.1% in the 4th quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group acquired a new position in shares of Home Depot in the 4th quarter valued at $253,000. Finally, Zullo Investment Group Inc. grew its position in Home Depot by 6.6% in the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after buying an additional 504 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.3 %

Shares of NYSE:HD traded up $4.37 during trading on Wednesday, reaching $353.87. 3,654,970 shares of the stock were exchanged, compared to its average volume of 3,311,593. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The firm has a market cap of $350.90 billion, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 2.41 and a beta of 1.00. The firm’s 50-day moving average price is $337.18 and its 200 day moving average price is $351.78.

Home Depot (NYSE:HDGet Free Report) last issued its earnings results 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 business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.82 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Thursday, May 30th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. Citigroup lowered their price objective on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Wells Fargo & Company lowered their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Zelman & Associates upgraded shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. Wedbush restated an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research report on Friday, May 10th. Finally, StockNews.com lowered shares of 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, nine have assigned a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.46.

Read Our Latest Stock Report on HD

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now directly owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Home Depot Profile

(Free Report)

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 d├ęcor 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.

Further Reading

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HDFree Report).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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