Park Place Capital Corp Sells 1,291 Shares of The Home Depot, Inc. (NYSE:HD)

Park Place Capital Corp cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,998 shares of the home improvement retailer’s stock after selling 1,291 shares during the period. Park Place Capital Corp’s holdings in Home Depot were worth $1,150,000 as of its most recent SEC filing.

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

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HD. Mizuho started coverage on Home Depot in a report on Tuesday, March 19th. They set a “buy” rating and a $415.00 price objective for the company. Raymond James restated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Citigroup reduced their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Tuesday, May 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $378.42.

Home Depot Trading Down 2.3 %

Shares of HD opened at $336.19 on Tuesday. The firm has a fifty day simple moving average of $338.51 and a two-hundred day simple moving average of $352.80. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock has a market capitalization of $333.37 billion, a P/E ratio of 22.55, a PEG ratio of 2.38 and a beta of 0.99. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

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

Home Depot Announces Dividend

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