Hillsdale Investment Management Inc. Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Hillsdale Investment Management Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 17.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,715 shares of the home improvement retailer’s stock after selling 370 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Home Depot were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Tuesday, May 14th. Zelman & Associates upgraded Home Depot from a “neutral” rating to an “outperform” rating in a report on Tuesday, April 2nd. UBS Group decreased their price objective on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Finally, HSBC reduced their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $380.58.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction 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 approximately $11,503,123.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD stock traded down $2.11 during midday trading on Tuesday, hitting $361.14. The company’s stock had a trading volume of 1,013,480 shares, compared to its average volume of 3,413,811. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The firm has a market capitalization of $358.11 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.51 and a beta of 0.99. The company has a 50 day moving average of $342.24 and a two-hundred day moving average of $353.06.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. 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 company posted $3.82 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts expect that The Home Depot, Inc. will post 15.3 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 annualized dividend and a dividend yield of 2.49%. Home Depot’s dividend payout ratio (DPR) is 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.