The Home Depot, Inc. (NYSE:HD) Shares Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,916 shares of the home improvement retailer’s stock after acquiring an additional 545 shares during the quarter. Home Depot makes up approximately 0.9% of Occidental Asset Management LLC’s holdings, making the stock its 26th biggest holding. Occidental Asset Management LLC’s holdings in Home Depot were worth $4,571,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Algert Global LLC purchased a new position in Home Depot during the third quarter worth approximately $245,000. Trexquant Investment LP raised its stake in shares of Home Depot by 300.3% in the 3rd quarter. Trexquant Investment LP now owns 8,371 shares of the home improvement retailer’s stock valued at $2,529,000 after acquiring an additional 6,280 shares during the period. Caxton Associates LP purchased a new position in shares of Home Depot in the 3rd quarter valued at $773,000. Jones Financial Companies Lllp raised its stake in shares of Home Depot by 11.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 8,929 shares of the home improvement retailer’s stock valued at $2,698,000 after acquiring an additional 900 shares during the period. Finally, Kidder Stephen W raised its stake in shares of Home Depot by 1.4% in the 3rd quarter. Kidder Stephen W now owns 28,789 shares of the home improvement retailer’s stock valued at $8,699,000 after acquiring an additional 400 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on HD shares. Evercore ISI raised their target price on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research note on Tuesday, May 14th. Guggenheim reissued a “buy” rating and issued a $390.00 target price on shares of Home Depot in a research note on Friday, April 5th. HSBC cut their target price on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Finally, Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. One equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.42.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of Home Depot 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 sale, 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 legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of NYSE HD traded up $2.75 during midday trading on Friday, hitting $344.24. The company’s stock had a trading volume of 6,344,192 shares, compared to its average volume of 3,519,389. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm’s fifty day moving average price is $338.51 and its 200-day moving average price is $352.60. 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 cap of $341.35 billion, a P/E ratio of 23.09, a P/E/G ratio of 2.36 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS 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 analyst estimates of $36.65 billion. During the same period in the previous year, the business posted $3.82 EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.61%. Home Depot’s dividend payout ratio is presently 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.