E Fund Management Co. Ltd. Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• E Fund Management Co. Ltd. has increased its stake in The Home Depot by 17.0%, acquiring an additional 1,874 shares during the first quarter, bringing their total holdings to 12,877 shares valued at $4,719,000.
• The Home Depot's recent quarterly earnings showed a 9.4% year-over-year increase in revenue to $39.86 billion, although it missed EPS estimates by $0.03.
• The company announced a quarterly dividend of $2.30 per share, with a payout ratio of 62.42%, resulting in an annualized yield of 2.3%.

E Fund Management Co. Ltd. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 17.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,877 shares of the home improvement retailer's stock after acquiring an additional 1,874 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Home Depot were worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Network Wealth Advisors LLC grew its stake in shares of Home Depot by 68.4% during the first quarter. Financial Network Wealth Advisors LLC now owns 699 shares of the home improvement retailer's stock worth $256,000 after purchasing an additional 284 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Home Depot by 5.9% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 30,280 shares of the home improvement retailer's stock worth $11,097,000 after purchasing an additional 1,680 shares in the last quarter. NFP Retirement Inc. grew its stake in shares of Home Depot by 0.8% during the first quarter. NFP Retirement Inc. now owns 8,171 shares of the home improvement retailer's stock worth $2,994,000 after purchasing an additional 63 shares in the last quarter. S Bank Fund Management Ltd acquired a new position in shares of Home Depot during the first quarter worth $3,293,000. Finally, National Pension Service boosted its stake in Home Depot by 5.4% in the first quarter. National Pension Service now owns 1,963,349 shares of the home improvement retailer's stock valued at $719,548,000 after acquiring an additional 100,507 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 completion of the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.10% of the company's stock.

Home Depot Stock Performance

NYSE HD traded down $6.45 during trading hours on Thursday, hitting $400.73. 3,599,312 shares of the stock were exchanged, compared to its average volume of 3,094,821. The company has a market cap of $398.70 billion, a price-to-earnings ratio of 27.19, a price-to-earnings-growth ratio of 3.87 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The stock has a 50-day moving average of $369.83 and a 200 day moving average of $372.03. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

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 (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.63 earnings per share. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share 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 of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is currently 62.42%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HD. DA Davidson decreased their price objective on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday. Guggenheim restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. Robert W. Baird decreased their price objective 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. Finally, Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $427.38.

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.