AIA Group Ltd Has $39.04 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• AIA Group Ltd reduced its stake in The Home Depot, Inc. by 21.2%, selling 28,654 shares and owning 106,510 shares post-sale, making it the 19th largest holding in its portfolio.
• Home Depot reported earnings of $3.56 per share, missing estimates, but exceeded revenue expectations with $39.86 billion for the quarter, up 9.4% year-over-year.
• The company declared a quarterly dividend of $2.30 per share, representing an annualized yield of 2.4% and indicating a payout ratio of 62.42%.

AIA Group Ltd lowered its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 21.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,510 shares of the home improvement retailer's stock after selling 28,654 shares during the period. Home Depot comprises about 1.0% of AIA Group Ltd's portfolio, making the stock its 19th largest holding. AIA Group Ltd's holdings in Home Depot were worth $39,035,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Navigoe LLC bought a new position in Home Depot in the fourth quarter valued at $29,000. Abound Financial LLC bought a new position in Home Depot in the first quarter valued at $31,000. Iron Horse Wealth Management LLC grew its position in Home Depot by 86.8% in the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock valued at $36,000 after purchasing an additional 46 shares in the last quarter. Quarry LP grew its position in Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. grew its position in Home Depot by 35.7% in the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 70.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HD. Gordon Haskett raised their target price on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Mizuho cut their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Robert W. Baird cut their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Guggenheim reiterated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Seven research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $427.38.

Home Depot Price Performance

HD stock traded down $6.45 during mid-day trading on Thursday, hitting $400.73. The stock had a trading volume of 3,598,429 shares, compared to its average volume of 3,514,982. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market capitalization 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. The firm has a fifty day simple moving average of $369.19 and a 200 day simple moving average of $372.20.

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

Home Depot Announces Dividend

The business 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. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's payout ratio is 62.42%.

Insider Activity at Home Depot

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

Home Depot 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.