Gateway Investment Advisers LLC Sells 11,181 Shares of The Home Depot, Inc. (NYSE:HD)

Gateway Investment Advisers LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 278,090 shares of the home improvement retailer’s stock after selling 11,181 shares during the quarter. Home Depot comprises 1.2% of Gateway Investment Advisers LLC’s holdings, making the stock its 14th biggest position. Gateway Investment Advisers LLC’s holdings in Home Depot were worth $106,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new stake in Home Depot in the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $27,000. Keener Financial Planning LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $31,000. PFG Private Wealth Management LLC increased its position in shares of Home Depot by 53.3% in 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 period. Finally, Gilfoyle & Co LLC purchased a new position in Home Depot in the 4th quarter worth $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction 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 transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Evercore ISI increased their price objective on Home Depot from $415.00 to $420.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. TD Cowen cut their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Wells Fargo & Company decreased their price objective on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Finally, DA Davidson restated a “neutral” rating and set a $370.00 target price on shares of Home Depot in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.46.

Read Our Latest Analysis on HD

Home Depot Price Performance

Shares of HD traded down $13.96 during trading hours on Tuesday, hitting $336.92. 1,570,229 shares of the stock were exchanged, compared to its average volume of 3,420,282. The stock’s 50-day moving average price is $337.91 and its two-hundred day moving average price is $352.58. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The company has a market cap of $334.09 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 2.46 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HDGet Free Report) last issued its earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.82 earnings per share. Research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced 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. This represents a $9.00 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Thursday, May 30th. Home Depot’s dividend payout ratio is currently 60.36%.

About Home Depot

(Free Report)

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 d├ęcor 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.

Further Reading

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

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