Sunpointe LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Sunpointe LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,784 shares of the home improvement retailer’s stock after acquiring an additional 62 shares during the period. Home Depot comprises 1.2% of Sunpointe LLC’s holdings, making the stock its 20th largest position. Sunpointe LLC’s holdings in Home Depot were worth $1,068,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Home Depot during the 4th quarter valued at about $4,311,070,000. International Assets Investment Management LLC grew its holdings in Home Depot by 12,647.4% in the fourth quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the period. Jennison Associates LLC increased its position in shares of Home Depot by 38.4% in the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after buying an additional 1,207,388 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the period. Finally, TD Asset Management Inc lifted its position in shares of Home Depot by 38.9% during the 4th quarter. TD Asset Management Inc now owns 1,769,610 shares of the home improvement retailer’s stock valued at $613,258,000 after buying an additional 495,894 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Tuesday, May 14th. Mizuho started coverage on Home Depot in a research note on Tuesday, March 19th. They set a “buy” rating and a $415.00 price objective for the company. Bank of America increased their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $352.00 to $395.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.42.

Home Depot Trading Down 0.1 %

Shares of Home Depot stock opened at $341.49 on Friday. The stock has a 50 day moving average of $338.15 and a 200 day moving average of $352.59. 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 firm has a market capitalization of $338.62 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.36 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share 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 was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.82 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is presently 60.36%.

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.