Abacus FCF Advisors LLC Sells 17,869 Shares of The Home Depot, Inc. (NYSE:HD)

Abacus FCF Advisors LLC decreased its position in The Home Depot, Inc. (NYSE:HD) by 36.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,173 shares of the home improvement retailer’s stock after selling 17,869 shares during the period. Home Depot comprises approximately 1.8% of Abacus FCF Advisors LLC’s portfolio, making the stock its 24th biggest holding. Abacus FCF Advisors LLC’s holdings in Home Depot were worth $11,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Home Depot by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank bought a new position in shares of Home Depot in the fourth quarter worth approximately $5,032,910,000. Capital Research Global Investors grew its holdings in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Home Depot by 13.3% in the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

HD opened at $365.20 on Tuesday. The stock has a 50-day moving average price of $361.51 and a 200-day moving average price of $384.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market cap of $363.35 billion, a PE ratio of 24.81, a P/E/G ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. TD Securities cut shares of Home Depot to a “buy” rating in a report on Monday, June 2nd. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Telsey Advisory Group reiterated an “outperform” rating on shares of Home Depot in a report on Monday, June 2nd. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot 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.