Alecta Tjanstepension Omsesidigt Sells 186,400 Shares of The Home Depot, Inc. $HD

Key Points

• Alecta Tjanstepension Omsesidigt cut its Home Depot position by 46% in the second quarter, selling 186,400 shares and retaining 219,100 shares valued at approximately $77.2 million.
• Home Depot reported quarterly earnings of $3.43 per share on $41.77 billion in revenue, narrowly exceeding analyst estimates, while revenue increased 4.8% year over year.
• The company pays a quarterly dividend of $2.33, equivalent to a 2.8% annualized yield; analysts maintain a “Moderate Buy” consensus with an average price target of $373.89.

Alecta Tjanstepension Omsesidigt lessened its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 46.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 219,100 shares of the home improvement retailer's stock after selling 186,400 shares during the quarter. Alecta Tjanstepension Omsesidigt's holdings in Home Depot were worth $77,193,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Home Depot during the 4th quarter worth approximately $4,850,329,000. Wellington Management Group LLP lifted its position in shares of Home Depot by 60.8% in the third quarter. Wellington Management Group LLP now owns 10,143,089 shares of the home improvement retailer's stock worth $4,109,878,000 after purchasing an additional 3,836,051 shares in the last quarter. Cardano Risk Management B.V. lifted its position in shares of Home Depot by 901.5% in the fourth quarter. Cardano Risk Management B.V. now owns 3,290,540 shares of the home improvement retailer's stock worth $1,132,275,000 after purchasing an additional 2,961,979 shares in the last quarter. Diamant Asset Management Inc. boosted its holdings in Home Depot by 33,026.3% during the first quarter. Diamant Asset Management Inc. now owns 2,342,026 shares of the home improvement retailer's stock worth $770,269,000 after purchasing an additional 2,334,956 shares during the last quarter. Finally, J. Stern & Co. LLP boosted its holdings in Home Depot by 14,869.3% during the fourth quarter. J. Stern & Co. LLP now owns 2,232,521 shares of the home improvement retailer's stock worth $768,210,000 after purchasing an additional 2,217,607 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Shares of HD opened at $338.44 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The company's fifty day simple moving average is $339.74 and its 200 day simple moving average is $341.23. The Home Depot, Inc. has a 1-year low of $289.10 and a 1-year high of $426.75. The company has a market cap of $337.47 billion, a price-to-earnings ratio of 24.04, a PEG ratio of 4.08 and a beta of 0.95.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 19th. The home improvement retailer reported $3.43 EPS for the quarter, beating analysts' consensus estimates of $3.41 by $0.02. Home Depot had a net margin of 8.41% and a return on equity of 117.24%. The firm had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. During the same quarter last year, the company posted $3.56 earnings per share. The company's revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts forecast that The Home Depot, Inc. will post 15 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a $2.33 dividend. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 4th. Home Depot's dividend payout ratio is presently 66.19%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on HD shares. Guggenheim reiterated a "buy" rating and issued a $425.00 price target on shares of Home Depot in a research note on Monday, July 20th. Jefferies Financial Group reduced their price objective on shares of Home Depot from $361.00 to $360.00 and set a "buy" rating for the company in a research note on Thursday, June 4th. Bank of America started coverage on Home Depot in a report on Tuesday, May 5th. They issued a "buy" rating and a $374.00 price objective for the company. Royal Bank Of Canada raised their price objective on Home Depot from $340.00 to $343.00 and gave the company a "sector perform" rating in a report on Wednesday, August 12th. Finally, Oppenheimer lowered their target price on Home Depot from $405.00 to $310.00 and set a "market perform" rating on the stock in a research report on Monday, May 18th. Eighteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $373.89.

Key Headlines Impacting Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Wall Street expects approximately $4.72–$4.73 in earnings per share and $47.2–$47.4 billion in revenue. Stronger-than-expected results, comparable-sales growth or an improved outlook could support a recovery. Home Depot Q2 earnings preview
• Positive Sentiment: Professional-contractor demand may be helping offset weak housing turnover and elevated mortgage rates. Investors will look for evidence that “Pro” customers and larger projects are sustaining sales. Home Depot earnings preview: Pro demand and housing
• Positive Sentiment: The Bill & Melinda Gates Foundation reportedly initiated a new Home Depot position during the second quarter, providing a modest institutional-investor vote of confidence. Gates Foundation portfolio changes

Home Depot Company Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

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