Exchange Capital Management Inc. Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Exchange Capital Management Inc. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 17,412 shares of the home improvement retailer’s stock after selling 234 shares during the period. Home Depot comprises about 1.1% of Exchange Capital Management Inc.’s portfolio, making the stock its 27th largest holding. Exchange Capital Management Inc.’s holdings in Home Depot were worth $6,679,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Algert Global LLC acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $245,000. Legacy Advisors LLC boosted its holdings in shares of Home Depot by 10.2% during the 3rd quarter. Legacy Advisors LLC now owns 11,273 shares of the home improvement retailer’s stock worth $3,406,000 after purchasing an additional 1,042 shares during the last quarter. Lakeshore Financial Planning Inc. acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $463,000. Key Client Fiduciary Advisors LLC boosted its holdings in shares of Home Depot by 6.5% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 4,710 shares of the home improvement retailer’s stock worth $1,423,000 after purchasing an additional 289 shares during the last quarter. Finally, KPP Advisory Services LLC purchased a new stake in shares of Home Depot during the 3rd quarter valued at approximately $1,750,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their price target for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. Evercore ISI lifted their price target on shares of Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a research report on Tuesday, May 14th. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. UBS Group cut their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Bank of America boosted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $378.42.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the 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 transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The sale was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Performance

Shares of NYSE:HD traded down $1.45 on Tuesday, reaching $334.74. The company’s stock had a trading volume of 1,806,266 shares, compared to its average volume of 3,446,556. The stock’s 50-day moving average is $338.51 and its two-hundred day moving average is $352.80. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The stock has a market capitalization of $331.93 billion, a P/E ratio of 22.46, a PEG ratio of 2.38 and a beta of 0.99.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating 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 net margin of 9.79% and a return on equity of 1,056.67%. The business’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.82 earnings per share. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Shareholders 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 yield of 2.69%. 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.