Ferguson Wellman Capital Management Inc. Has $89.49 Million Position in The Home Depot, Inc. (NYSE:HD)

Ferguson Wellman Capital Management Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288,087 shares of the home improvement retailer’s stock after selling 1,378 shares during the period. Home Depot accounts for 2.1% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 7th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Home Depot were worth $89,491,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Slow Capital Inc. bought a new position in Home Depot in the 1st quarter valued at $25,000. Kalos Management Inc. purchased a new stake in shares of Home Depot during the 1st quarter valued at $26,000. Fairfield Bush & CO. purchased a new stake in shares of Home Depot during the 1st quarter valued at $27,000. KB Financial Partners LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at $28,000. Finally, Studio Investment Management LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at $32,000. 68.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

HD has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $321.00 to $335.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Telsey Advisory Group raised their price objective on shares of Home Depot from $315.00 to $335.00 in a research report on Wednesday, August 16th. Citigroup lifted their target price on shares of Home Depot from $327.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Oppenheimer reiterated an “outperform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Wednesday, August 9th. Finally, Barclays lifted their target price on shares of Home Depot from $310.00 to $333.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 15th. Thirteen equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.62.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction that occurred 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 owns 73,049 shares in the company, valued at $23,770,144.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Teresa Wynn Roseborough sold 6,091 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $324.22, for a total value of $1,974,824.02. Following the transaction, the executive vice president now owns 22,749 shares in the company, valued at $7,375,680.78. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the transaction, the executive vice president now owns 73,049 shares in the company, valued at approximately $23,770,144.60. The disclosure for this sale can be found here. Insiders have sold 19,811 shares of company stock valued at $6,441,376 over the last quarter. Corporate insiders own 0.19% of the company’s stock.

Home Depot Trading Down 1.3 %

Shares of HD opened at $317.26 on Tuesday. The firm’s 50-day moving average price is $325.92 and its 200-day moving average price is $305.38. The firm has a market capitalization of $317.28 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.22 and a beta of 0.95. The company has a current ratio of 1.31, a quick ratio of 0.35 and a debt-to-equity ratio of 30.53. The Home Depot, Inc. has a 1-year low of $265.61 and a 1-year high of $347.25.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 15th. The home improvement retailer reported $4.65 EPS for the quarter, topping the consensus estimate of $4.45 by $0.20. Home Depot had a net margin of 10.48% and a return on equity of 1,424.89%. The business had revenue of $42.92 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same quarter in the previous year, the firm posted $5.05 earnings per share. Home Depot’s quarterly revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.24 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 14th. Investors of record on Thursday, August 31st were paid a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Wednesday, August 30th. Home Depot’s payout ratio is currently 52.22%.

Home Depot declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 15th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to reacquire up to 4.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Home Depot Company Profile

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.