Kovack Advisors Inc. Acquires 616 Shares of The Home Depot, Inc. (NYSE:HD)

Kovack Advisors Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,607 shares of the home improvement retailer’s stock after acquiring an additional 616 shares during the quarter. Home Depot comprises 0.7% of Kovack Advisors Inc.’s investment portfolio, making the stock its 28th largest position. Kovack Advisors Inc.’s holdings in Home Depot were worth $5,603,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Massachusetts Wealth Management lifted its position in Home Depot by 4.2% during the first quarter. Massachusetts Wealth Management now owns 5,540 shares of the home improvement retailer’s stock valued at $2,125,000 after purchasing an additional 225 shares during the last quarter. DMC Group LLC lifted its position in Home Depot by 1.1% during the first quarter. DMC Group LLC now owns 4,063 shares of the home improvement retailer’s stock valued at $1,559,000 after purchasing an additional 43 shares during the last quarter. Madrona Financial Services LLC lifted its position in Home Depot by 3.1% during the first quarter. Madrona Financial Services LLC now owns 2,532 shares of the home improvement retailer’s stock valued at $971,000 after purchasing an additional 77 shares during the last quarter. Norden Group LLC lifted its position in Home Depot by 2,374.9% during the first quarter. Norden Group LLC now owns 147,576 shares of the home improvement retailer’s stock valued at $56,614,000 after purchasing an additional 141,613 shares during the last quarter. Finally, Wiser Wealth Management Inc lifted its position in Home Depot by 0.9% during the first quarter. Wiser Wealth Management Inc now owns 4,290 shares of the home improvement retailer’s stock valued at $1,646,000 after purchasing an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, EVP Matt Carey sold 56,008 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the sale, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Mizuho started coverage on shares of Home Depot in a research report on Tuesday, March 19th. They set a “buy” rating and a $415.00 target price for the company. Raymond James reissued a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. UBS Group decreased their price target on shares of Home Depot from $411.00 to $400.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 2nd. Finally, Wedbush reissued an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $378.42.

Home Depot Trading Down 0.4 %

Home Depot stock traded down $1.33 during mid-day trading on Thursday, reaching $333.64. 1,732,991 shares of the company traded hands, compared to its average volume of 3,440,205. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The firm’s 50 day moving average price is $338.43 and its 200 day moving average price is $352.56. The firm has a market capitalization of $330.84 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 2.31 and a beta of 0.98. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The business had revenue of $36.42 billion for the quarter, compared to the consensus estimate 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 previous year, the firm earned $3.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is currently 60.36%.

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.