Edmonds Duncan Registered Investment Advisors LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Edmonds Duncan Registered Investment Advisors LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,558 shares of the home improvement retailer’s stock after selling 50 shares during the quarter. Edmonds Duncan Registered Investment Advisors LLC’s holdings in Home Depot were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of HD. Algert Global LLC bought a new stake in Home Depot in the 3rd quarter valued at about $245,000. Legacy Advisors LLC increased its position in shares of Home Depot by 10.2% in the third 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. bought a new position in shares of Home Depot in the third quarter worth approximately $463,000. Key Client Fiduciary Advisors LLC increased its position in shares of Home Depot by 6.5% in the third 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 bought a new position in shares of Home Depot in the third quarter worth approximately $1,750,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of the company’s 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 transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

HD stock traded down $1.47 during midday trading on Tuesday, hitting $334.72. The company’s stock had a trading volume of 511,991 shares, compared to its average volume of 3,436,084. The firm has a market capitalization of $331.91 billion, a price-to-earnings ratio of 22.46, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a 50 day moving average of $338.51 and a two-hundred day moving average of $352.80. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

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. The business had revenue of $36.42 billion for the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $3.82 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 annualized dividend and a yield of 2.69%. Home Depot’s payout ratio is presently 60.36%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HD. Wedbush reaffirmed an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. TD Cowen dropped their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Guggenheim reiterated a “buy” rating and issued a $390.00 price objective on shares of Home Depot in a report on Friday, April 5th. HSBC lowered their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Tuesday, May 14th. 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $378.42.

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.