The Home Depot, Inc. (NYSE:HD) Shares Sold by ForthRight Wealth Management LLC

ForthRight Wealth Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,810 shares of the home improvement retailer’s stock after selling 185 shares during the period. Home Depot comprises about 0.8% of ForthRight Wealth Management LLC’s portfolio, making the stock its 20th biggest position. ForthRight Wealth Management LLC’s holdings in Home Depot were worth $2,344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth about $4,311,070,000. Alphinity Investment Management Pty Ltd acquired a new position in shares of Home Depot during the 1st quarter worth $513,016,000. Jennison Associates LLC increased its holdings in shares of Home Depot by 38.4% in the 4th quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after purchasing an additional 1,207,388 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

Home Depot Price Performance

HD traded up $0.30 on Friday, reaching $348.64. The company had a trading volume of 2,314,771 shares, compared to its average volume of 3,403,096. The company has a market capitalization of $345.72 billion, a P/E ratio of 23.38, a PEG ratio of 2.48 and a beta of 0.98. 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 company has a fifty day moving average of $348.16 and a 200-day moving average of $353.18. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm 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 firm posted $3.82 earnings per share. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.58%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analysts Set New Price Targets

HD has been the subject of several research reports. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. UBS Group dropped their price target on Home Depot from $411.00 to $400.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Wednesday. TD Cowen decreased their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $384.00.

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.