Sei Investments Co. Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Sei Investments Co. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 13.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,978 shares of the home improvement retailer’s stock after selling 29,438 shares during the quarter. Sei Investments Co.’s holdings in The Home Depot were worth $57,590,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Westchester Capital Management Inc. purchased a new stake in shares of The Home Depot in the fourth quarter valued at approximately $33,000. Bouvel Investment Partners LLC purchased a new stake in The Home Depot during the fourth quarter worth $33,000. Winch Advisory Services LLC boosted its position in The Home Depot by 139.6% during the fourth quarter. Winch Advisory Services LLC now owns 127 shares of the home improvement retailer’s stock worth $34,000 after purchasing an additional 74 shares in the last quarter. Grant Street Asset Management Inc. purchased a new stake in The Home Depot during the fourth quarter worth $42,000. Finally, Paradigm Strategies in Wealth Management LLC purchased a new stake in The Home Depot during the first quarter worth $52,000. Hedge funds and other institutional investors own 69.48% of the company’s stock.

In other The Home Depot news, EVP Matt Carey sold 113,138 shares of the company’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $316.00, for a total transaction of $35,751,608.00. Following the completion of the sale, the executive vice president now directly owns 78,594 shares in the company, valued at $24,835,704. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Shares of NYSE:HD opened at $308.31 on Friday. The firm has a market capitalization of $327.81 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 1.95 and a beta of 1.05. The company has a debt-to-equity ratio of 19.85, a current ratio of 1.11 and a quick ratio of 0.41. The stock’s 50-day moving average price is $320.26. The Home Depot, Inc. has a 12 month low of $234.31 and a 12 month high of $345.69.

The Home Depot (NYSE:HD) last announced its quarterly earnings results on Monday, May 17th. The home improvement retailer reported $3.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.08 by $0.78. The company had revenue of $37.50 billion during the quarter, compared to analyst estimates of $33.68 billion. The Home Depot had a return on equity of 963.88% and a net margin of 10.45%. The firm’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 13.9 EPS for the current year.

The Home Depot announced that its Board of Directors has authorized a stock buyback program on Thursday, May 20th that authorizes the company to repurchase $20.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to buy up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, June 3rd will be paid a dividend of $1.65 per share. The ex-dividend date is Wednesday, June 2nd. This represents a $6.60 annualized dividend and a yield of 2.14%. The Home Depot’s dividend payout ratio is presently 54.86%.

A number of analysts have commented on the company. Jefferies Financial Group boosted their target price on The Home Depot from $325.00 to $374.00 and gave the stock a “buy” rating in a research report on Friday, May 14th. Raymond James boosted their target price on The Home Depot from $305.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 13th. Wells Fargo & Company boosted their target price on The Home Depot from $330.00 to $360.00 in a research report on Wednesday, May 5th. DA Davidson upped their price objective on The Home Depot from $295.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, May 19th. Finally, JPMorgan Chase & Co. upped their price objective on The Home Depot from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, April 19th. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $325.21.

The Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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

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