Shelton Capital Management Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Shelton Capital Management decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,002 shares of the home improvement retailer’s stock after selling 191 shares during the period. Shelton Capital Management’s holdings in Home Depot were worth $3,107,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Home Depot by 99,916.0% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 870,320,643 shares of the home improvement retailer’s stock worth $270,356,404,000 after purchasing an additional 869,450,462 shares during the last quarter. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter worth about $3,740,875,000. Moneta Group Investment Advisors LLC increased its position in shares of Home Depot by 105,205.6% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after purchasing an additional 10,984,516 shares during the last quarter. Providence Capital Advisors LLC increased its position in shares of Home Depot by 30,077.5% in the 1st quarter. Providence Capital Advisors LLC now owns 6,140,519 shares of the home improvement retailer’s stock worth $20,806,000 after purchasing an additional 6,120,171 shares during the last quarter. Finally, Gateway Advisory LLC increased its position in shares of Home Depot by 29,554.9% in the 1st quarter. Gateway Advisory LLC now owns 5,109,249 shares of the home improvement retailer’s stock worth $5,109,000 after purchasing an additional 5,092,020 shares during the last quarter. Hedge funds and other institutional investors own 68.34% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of Home Depot from $303.00 to $299.00 and set a “sector perform” rating for the company in a report on Wednesday. Citigroup lifted their price target on shares of Home Depot from $327.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Home Depot in a report on Wednesday. The Goldman Sachs Group lifted their price target on shares of Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, August 15th. Finally, Wedbush lifted their price target on shares of Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $339.57.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 6,091 shares of the business’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the sale, the executive vice president now directly owns 22,749 shares of the company’s stock, valued at $7,375,680.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $324.22, for a total transaction of $1,974,824.02. Following the transaction, the executive vice president now directly owns 22,749 shares of the company’s stock, valued at $7,375,680.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $325.40, for a total value of $3,943,848.00. Following the transaction, the executive vice president now directly owns 73,049 shares in the company, valued at $23,770,144.60. The disclosure for this sale can be found here. Insiders have sold 21,186 shares of company stock valued at $6,862,827 over the last three months. Company insiders own 0.19% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $307.27 on Friday. The stock’s fifty day simple moving average is $298.63 and its 200 day simple moving average is $306.63. The stock has a market capitalization of $307.29 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 2.30 and a beta of 0.93. The company has a quick ratio of 0.35, a current ratio of 1.30 and a debt-to-equity ratio of 28.37. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $347.25.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.75 by $0.06. The company had revenue of $37.71 billion for the quarter, compared to analyst estimates of $37.59 billion. Home Depot had a return on equity of 1,339.65% and a net margin of 10.22%. Home Depot’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.24 earnings per share. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.05 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th will be given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is presently 53.66%.

Home Depot declared that its board has authorized a stock repurchase plan on Tuesday, August 15th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the home improvement retailer to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer. 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.