Sandy Cove Advisors LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Sandy Cove Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 3.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,832 shares of the home improvement retailer’s stock after purchasing an additional 63 shares during the quarter. Sandy Cove Advisors LLC’s holdings in Home Depot were worth $703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Algert Global LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $245,000. Trexquant Investment LP grew its position in shares of Home Depot by 300.3% during the third quarter. Trexquant Investment LP now owns 8,371 shares of the home improvement retailer’s stock worth $2,529,000 after buying an additional 6,280 shares in the last quarter. SRS Capital Advisors Inc. grew its holdings in Home Depot by 62.6% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,421 shares of the home improvement retailer’s stock worth $429,000 after acquiring an additional 547 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Home Depot by 25.6% in the 3rd quarter. AQR Capital Management LLC now owns 275,050 shares of the home improvement retailer’s stock valued at $83,109,000 after purchasing an additional 56,008 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in shares of Home Depot by 49.0% during the 3rd quarter. Axxcess Wealth Management LLC now owns 48,945 shares of the home improvement retailer’s stock worth $14,790,000 after purchasing an additional 16,089 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

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 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 sale, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD traded up $2.75 during trading hours on Friday, hitting $344.24. 6,344,192 shares of the stock were exchanged, compared to its average volume of 3,519,389. The firm has a market capitalization of $341.35 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.38 and a beta of 1.00. The Home Depot, Inc. has a one year low of $274.26 and a one year 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 company’s 50 day moving average is $338.51 and its 200 day moving average is $352.74.

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

Home Depot Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HD shares. UBS Group reduced their price target on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. HSBC reduced their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Zelman & Associates raised Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Citigroup dropped their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $378.42.

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.