Powers Advisory Group LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Powers Advisory Group LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,036 shares of the home improvement retailer’s stock after purchasing an additional 31 shares during the quarter. Powers Advisory Group LLC’s holdings in Home Depot were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bey Douglas LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $913,000. Hartline Investment Corp grew its stake in shares of Home Depot by 3.0% in the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after purchasing an additional 460 shares during the last quarter. Wolf Group Capital Advisors lifted its holdings in shares of Home Depot by 6.1% during the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares during the period. Alliance Wealth Management Group purchased a new position in Home Depot in the 4th quarter valued at $253,000. Finally, Zullo Investment Group Inc. raised its position in Home Depot by 6.6% during the 4th quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after buying an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on HD. Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. Evercore ISI increased their target price on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 14th. Mizuho initiated coverage on Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target on the stock. Finally, StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Home Depot Stock Performance

Shares of HD stock opened at $333.64 on Friday. The company’s fifty day simple moving average is $338.48 and its 200-day simple moving average is $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 52 week low of $274.26 and a 52 week high of $396.87. The company has a market cap of $330.84 billion, a PE ratio of 22.38, a P/E/G ratio of 2.30 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. During the same period in the prior year, the firm earned $3.82 earnings per share. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. As a group, equities 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 issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Insider Buying and Selling at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by insiders.

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.