Cushing Capital Partners LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cushing Capital Partners LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,178 shares of the home improvement retailer’s stock after acquiring an additional 175 shares during the quarter. Cushing Capital Partners LLC’s holdings in Home Depot were worth $798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HD. Wealth Group Ltd. grew its stake in shares of Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after acquiring an additional 27 shares during the period. Tallon Kerry Patrick bought a new position in Home Depot during the fourth quarter worth about $281,000. Capital & Planning LLC increased its stake in shares of Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 563 shares in the last quarter. Ironwood Wealth Management LLC. raised its position in shares of Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after purchasing an additional 32 shares during the period. Finally, Brighton Jones LLC lifted its stake in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.4%

HD opened at $348.74 on Wednesday. The business’s fifty day simple moving average is $363.01 and its 200 day simple moving average is $381.43. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The stock has a market cap of $346.97 billion, a PE ratio of 23.66, a P/E/G ratio of 3.36 and a beta of 1.02.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm 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 242.51% and a net margin of 8.98%. Home Depot’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.63 earnings per share. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HD shares. Wells Fargo & Company reduced their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research note on Thursday, May 8th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a report on Wednesday, May 21st. DA Davidson reduced their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, TD Securities cut Home Depot to a “buy” rating in a research report on Monday, June 2nd. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $426.77.

Insider Buying and Selling at Home Depot

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

Home Depot Company 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.