Edge Financial Advisors LLC Takes $249,000 Position in The Home Depot, Inc. (NYSE:HD)

Edge Financial Advisors LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 648 shares of the home improvement retailer’s stock, valued at approximately $249,000.

Several other large investors have also recently made changes to their positions in the business. Bare Financial Services Inc bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $27,000. Keener Financial Planning LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $31,000. PFG Private Wealth Management LLC increased its position in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $35,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company reduced their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research report on Thursday, May 9th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Tuesday, May 14th. Evercore ISI lifted their target price on shares of Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Guggenheim reaffirmed a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. Finally, HSBC cut their target price 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $378.42.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total value of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD traded up $2.04 during trading hours on Friday, reaching $335.68. 728,193 shares of the stock traded hands, compared to its average volume of 3,421,091. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company’s 50-day moving average price is $338.48 and its two-hundred day moving average price is $352.30. The company has a market cap of $332.86 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.30 and a beta of 0.98.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.68%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is currently 60.36%.

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.