Charles Schwab Investment Management Inc. Has $5.28 Billion Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in The Home Depot, acquiring 891,326 shares during the first quarter, raising their holdings to 14,415,278 shares, which represent approximately 1.0% of their investment portfolio.
• Several institutional investors, including Vanguard Group Inc. and Asset Planning Services Inc., have also made significant purchases of Home Depot shares, showcasing strong institutional interest with over 70.86% of the stock owned by institutional investors.
• In terms of market performance, Home Depot's stock opened at $387.13, while the company reported earnings of $3.56 per share for the last quarter, missing estimates slightly but achieving a revenue increase of 9.4% year-over-year.

Charles Schwab Investment Management Inc. lifted its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 6.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,415,278 shares of the home improvement retailer's stock after buying an additional 891,326 shares during the quarter. Home Depot comprises 1.0% of Charles Schwab Investment Management Inc.'s portfolio, making the stock its 15th biggest holding. Charles Schwab Investment Management Inc. owned about 1.45% of Home Depot worth $5,282,398,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Asset Planning Services Inc. LA ADV grew its position in shares of Home Depot by 99,400.7% during the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. GAMMA Investing LLC grew its position in shares of Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares during the period. Northern Trust Corp grew its position in shares of Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the period. Castlekeep Investment Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $471,189,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Home Depot by 13.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 6,480,031 shares of the home improvement retailer's stock worth $2,374,866,000 after buying an additional 778,012 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 0.4%

Shares of Home Depot stock traded up $1.60 on Friday, reaching $387.77. 2,326,668 shares of the company were exchanged, compared to its average volume of 3,127,176. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company has a market capitalization of $385.80 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.67 and a beta of 1.00. 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 company has a 50-day moving average of $367.64 and a 200 day moving average of $372.52.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly 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 net margin of 8.98% and a return on equity of 242.51%. 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 company posted $3.63 EPS. The firm's revenue was up 9.4% on a year-over-year basis. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HD shares. Mizuho decreased their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. DA Davidson decreased their price objective on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Finally, Jefferies Financial Group decreased their price objective on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $426.77.

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.