AGF Management Ltd. Buys 47,565 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• AGF Management Ltd. increased its stake in The Home Depot by 17.7%, purchasing an additional 47,565 shares to bring its total holdings to 316,683 shares, valued at $116 million.
• The Home Depot reported quarterly earnings with an EPS of $3.56, slightly below the consensus estimate of $3.59, while revenue reached $39.86 billion, exceeding expectations.
• The company recently declared a quarterly dividend of $2.30, which represents an annualized amount of $9.20 and a yield of 2.4%.

AGF Management Ltd. lifted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 17.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 316,683 shares of the home improvement retailer's stock after acquiring an additional 47,565 shares during the period. AGF Management Ltd.'s holdings in Home Depot were worth $116,061,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. Financial Gravity Asset Management Inc. purchased a new stake in Home Depot in the first quarter worth approximately $406,000. Wealth Management Partners LLC boosted its stake in shares of Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after acquiring an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV boosted its stake in shares of Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after acquiring an additional 221 shares during the last quarter. ARS Wealth Advisors Group LLC boosted its stake in shares of Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after acquiring an additional 239 shares during the last quarter. Finally, Tabor Asset Management LP purchased a new position in shares of Home Depot during the 1st quarter worth $5,886,000. Institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Shares of Home Depot stock traded down $6.45 during trading hours on Thursday, reaching $400.73. The company's stock had a trading volume of 3,599,312 shares, compared to its average volume of 3,515,108. The firm has a 50 day moving average price of $369.19 and a 200-day moving average price of $372.20. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The stock has a market cap of $398.70 billion, a P/E ratio of 27.19, a P/E/G ratio of 3.76 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm earned $3.63 earnings per share. The business's quarterly revenue was up 9.4% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HD. Jefferies Financial Group dropped their price target on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Royal Bank Of Canada dropped their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $427.38.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president directly owned 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company's stock.

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.