Westside Investment Management Inc. Cuts Position in The Home Depot, Inc. (NYSE:HD)

Westside Investment Management Inc. lowered its position in The Home Depot, Inc. (NYSE:HD) by 10.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,226 shares of the home improvement retailer’s stock after selling 139 shares during the quarter. Westside Investment Management Inc.’s holdings in Home Depot were worth $471,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Bare Financial Services Inc acquired a new position in shares of Home Depot during the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter valued at about $27,000. Keener Financial Planning LLC acquired a new position in shares of Home Depot during the 4th quarter valued at about $31,000. PFG Private Wealth Management LLC increased its stake in shares of Home Depot by 53.3% during the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in shares of Home Depot during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the stock in a transaction on 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 sale, 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 Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

HD stock opened at $333.58 on Thursday. 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 firm has a market cap of $330.78 billion, a P/E ratio of 22.37, a P/E/G ratio of 2.31 and a beta of 0.98. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The stock’s 50 day simple moving average is $338.43 and its 200 day simple moving average is $352.56.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to analyst estimates of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. 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 posted $3.82 EPS. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

Analysts Set New Price Targets

HD has been the subject of a number of research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $390.00 price objective on shares of Home Depot in a research note on Friday, April 5th. UBS Group decreased their target price on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Evercore ISI boosted their target price on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. Finally, Citigroup decreased their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $378.42.

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.