Fjarde AP Fonden Fourth Swedish National Pension Fund Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in The Home Depot by 43.1%, selling 102,300 shares and maintaining a total of 134,809 shares, which represents about 0.6% of its portfolio.
• Home Depot reported an EPS of $3.56 for the most recent quarter, which missed estimates by $0.03, although its revenue of $39.86 billion exceeded expectations.
• The company declared a quarterly dividend of $2.30 per share, contributing to an annualized dividend yield of 2.3%, with a current dividend payout ratio of 62.42%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 43.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 134,809 shares of the home improvement retailer's stock after selling 102,300 shares during the quarter. Home Depot makes up approximately 0.6% of Fjarde AP Fonden Fourth Swedish National Pension Fund's portfolio, making the stock its 29th biggest position. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Home Depot were worth $49,406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Navigoe LLC purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $29,000. Abound Financial LLC purchased a new stake in shares of Home Depot during the first quarter worth approximately $31,000. Quarry LP raised its stake in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Iron Horse Wealth Management LLC raised its stake in shares of Home Depot by 86.8% during the first quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. raised its stake in shares of Home Depot by 35.7% during the first quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock worth $42,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Home Depot stock opened at $407.46 on Thursday. The stock's 50-day moving average is $369.19 and its 200-day moving average is $372.20. The company has a market cap of $405.39 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 3.76 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced 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 company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced 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 dividend yield of 2.3%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) is presently 62.42%.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The stock was 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. The trade was a 24.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president owned 17,367 shares in the company, valued at $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. Company insiders own 0.10% of the company's stock.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Morgan Stanley restated an "overweight" rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. TD Securities cut Home Depot to a "buy" rating in a research note on Monday, June 2nd. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Finally, Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the stock an "overweight" rating in a report on Monday, June 30th. Seven research 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's stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus price target of $427.38.

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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