Goelzer Investment Management Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Goelzer Investment Management Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,612 shares of the home improvement retailer’s stock after selling 301 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Home Depot were worth $5,295,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HD. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot in the 3rd quarter worth $41,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter valued at $41,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the 3rd quarter worth about $46,000. Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the 2nd quarter worth about $47,000. Finally, Quarry LP lifted its stake in Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after acquiring an additional 36 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Mizuho boosted their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Royal Bank of Canada raised their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, TD Cowen boosted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

NYSE HD opened at $414.53 on Monday. The stock has a market capitalization of $411.77 billion, a PE ratio of 28.16, a P/E/G ratio of 4.32 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The business has a 50 day simple moving average of $407.14 and a two-hundred day simple moving average of $390.53. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $3.81 earnings per share. On average, research analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

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.