Gateway Investment Advisers LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)



Gateway Investment Advisers LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 329,735 shares of the home improvement retailer’s stock after selling 4,300 shares during the quarter. Home Depot comprises approximately 1.0% of Gateway Investment Advisers LLC’s portfolio, making the stock its 16th biggest holding. Gateway Investment Advisers LLC’s holdings in Home Depot were worth $98,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Trilogy Capital Inc. Its stake grew in shares of Home Depot by 4.0% in the fourth quarter. Trilogy Capital Inc. Now owns 732 shares of the home improvement retailer’s stock valued at $304,000 after buying an additional 28 shares in the last quarter. Smith Anglin Financial LLC grew its stake in shares of Home Depot by 1.1% in the fourth quarter. Smith Anglin Financial LLC now owns 2,574 shares of the home improvement retailer’s stock valued at $1,068,000 after buying an additional 28 shares in the last quarter. Palisades Hudson Asset Management LP grew its stake in Home Depot by 1.1% during the 4th quarter. Palisades Hudson Asset Management LP now owns 2,518 shares of the home improvement retailer’s stock valued at $1,045,000 after purchasing an additional 28 shares in the last quarter. Klingman & Associates LLC grew its stake in Home Depot by 0.6% during the 4th quarter. Klingman & Associates LLC now owns 4,640 shares of the home improvement retailer’s stock valued at $1,926,000 after purchasing an additional 29 shares in the last quarter. Finally, Lenox Wealth Advisors LLC grew its stake in Home Depot by 2.8% during the 4th quarter. Lenox Wealth Advisors LLC now owns 1,118 shares of the home improvement retailer’s stock valued at $464,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 70.61% of the company’s stock.

In other news, Director Becker Caryn Seidman purchased 1,500 shares of the stock in a transaction dated Monday, May 23rd. The shares were bought at an average cost of $287.73 per share, for a total transaction of $431,595.00. Following the transaction, the director now owns 1,500 shares in the company, valued at $431,595. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ann Marie Campbell sold 11,293 shares of Home Depot stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $288.03, for a total value of $3,252,722.79. Following the transaction, the executive vice president now owns 51,175 shares in the company, valued at $14,739,935.25. The disclosure for this sale can be found here. 0.17% of the stock is owned by company insiders.

A number of equities research analysts have weighed in on the company. Raymond James lowered their objective price on Home Depot from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, May 18th. Jefferies Financial Group lowered their objective price on Home Depot from $420.00 to $400.00 and set a “buy” rating for the company in a research note on Wednesday, May 18th. Wedbush lowered their objective price on Home Depot from $340.00 to $320.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. Trust Financial lowered their objective price on Home Depot from $405.00 to $375.00 and set a “na” rating for the company in a research note on Wednesday, May 18th. Finally, Guggenheim reduced their target price on Home Depot from $400.00 to $350.00 and set a “na” rating on the stock in a report on Wednesday, May 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $369.82.

Shares of NYSE HD opened at $283.00 on Friday. The company has a market cap of $290.86 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $420.61. The company has a current ratio of 1.11, a quick ratio of 0.28 and a debt-to-equity ratio of 35.47. The stock’s 50 day simple moving average is $294.61 and its 200 day simple moving average is $332.16.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.42. Home Depot had a negative return on equity of 21,952.16% and a net margin of 10.83%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $36.78 billion. During the same quarter last year, the business posted $3.86 EPS. The business’s revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 16.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Investors of record on Thursday, June 2nd were given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Wednesday, June 1st. Home Depot’s dividend payout ratio is currently 48.25%.

Home Depot Profile (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

Further Reading

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)



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