Fayez Sarofim & Co Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Fayez Sarofim & Co increased its stake in The Home Depot by 4.2%, owning 657,798 shares valued at approximately $241 million after acquiring an additional 26,317 shares in the first quarter.
• Home Depot's recent earnings report showed earnings per share of $3.56, missing estimates by $0.03, while the company's revenue rose 9.4% year-over-year to $39.86 billion.
• The company announced a quarterly dividend of $2.30 per share, translating to an annualized dividend of $9.20 with a yield of 2.4%.

Fayez Sarofim & Co grew its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 657,798 shares of the home improvement retailer's stock after buying an additional 26,317 shares during the quarter. Fayez Sarofim & Co owned 0.07% of Home Depot worth $241,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Home Depot by 11.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,883,347 shares of the home improvement retailer's stock worth $690,228,000 after purchasing an additional 192,777 shares during the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Home Depot by 8.7% in the first quarter. Y.D. More Investments Ltd now owns 1,120 shares of the home improvement retailer's stock worth $415,000 after purchasing an additional 90 shares during the last quarter. Ironwood Investment Counsel LLC increased its stake in Home Depot by 0.8% in the 1st quarter. Ironwood Investment Counsel LLC now owns 16,722 shares of the home improvement retailer's stock worth $6,129,000 after buying an additional 126 shares during the period. Silver Oak Advisory Group Inc. boosted its position in Home Depot by 15.8% in the 1st quarter. Silver Oak Advisory Group Inc. now owns 682 shares of the home improvement retailer's stock valued at $249,000 after buying an additional 93 shares during the period. Finally, Headlands Technologies LLC bought a new position in Home Depot in the 1st quarter worth about $6,489,000. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 completion of the sale, the executive vice president directly owned 7,951 shares of the company's stock, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Up 0.4%

HD stock opened at $387.13 on Thursday. The business's 50-day moving average is $366.89 and its 200 day moving average is $372.90. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The stock has a market cap of $385.17 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 3.66 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.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 EPS. The company's revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson lowered their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 price target on Home Depot and gave the company an "outperform" rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upped their price objective 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. Morgan Stanley reiterated an "overweight" rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the company an "overweight" rating in a research report on Monday, June 30th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

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.

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