Park Edge Advisors LLC Sells 315 Shares of The Home Depot, Inc. (NYSE:HD)

Park Edge Advisors LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,758 shares of the home improvement retailer’s stock after selling 315 shares during the quarter. Park Edge Advisors LLC’s holdings in Home Depot were worth $1,058,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HD. Ramirez Asset Management Inc. bought a new position in shares of Home Depot in the third quarter worth approximately $720,000. Townsquare Capital LLC raised its holdings in Home Depot by 2.4% in the 3rd quarter. Townsquare Capital LLC now owns 75,489 shares of the home improvement retailer’s stock worth $22,810,000 after acquiring an additional 1,737 shares during the last quarter. Penserra Capital Management LLC lifted its position in Home Depot by 3.6% in the 3rd quarter. Penserra Capital Management LLC now owns 396,490 shares of the home improvement retailer’s stock valued at $119,801,000 after acquiring an additional 13,838 shares in the last quarter. Journey Advisory Group LLC boosted its stake in Home Depot by 4.7% during the 3rd quarter. Journey Advisory Group LLC now owns 14,974 shares of the home improvement retailer’s stock valued at $4,525,000 after purchasing an additional 669 shares during the last quarter. Finally, Advisors Capital Management LLC increased its holdings in shares of Home Depot by 12.1% in the 3rd quarter. Advisors Capital Management LLC now owns 106,558 shares of the home improvement retailer’s stock worth $32,198,000 after purchasing an additional 11,535 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HD. Wedbush reaffirmed an “outperform” rating and set a $410.00 price target on shares of Home Depot in a report on Friday, May 10th. TD Cowen decreased their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Evercore ISI raised their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. HSBC decreased their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. Finally, Guggenheim restated a “buy” rating and issued a $390.00 target price on shares of Home Depot in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $378.42.

Insider Activity

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated Thursday, May 16th. The stock was 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 owns 33,325 shares in the company, valued at $11,503,123.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $333.64 on Friday. The firm has a market cap of $330.84 billion, a PE ratio of 22.38, a PEG ratio of 2.30 and a beta of 0.98. The stock has a 50 day moving average of $338.48 and a 200 day moving average of $352.30. 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 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (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 business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. During the same period in the prior year, the firm earned $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 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 issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. Home Depot’s dividend payout ratio (DPR) 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.