The Home Depot, Inc. (NYSE:HD) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in Home Depot by 2.2%, selling 5,900 shares, which brings its total holdings to 267,000 shares valued at approximately $97.85 million.
• Multiple institutional investors have increased their positions in Home Depot, including Brighton Jones LLC, which raised its stake by 36.5% in the fourth quarter.
• Analysts maintain a positive outlook on Home Depot, with the majority recommending a "buy" rating, and a consensus price target of $426.77.

Forsta AP Fonden lessened its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,000 shares of the home improvement retailer's stock after selling 5,900 shares during the period. Home Depot accounts for approximately 0.7% of Forsta AP Fonden's portfolio, making the stock its 22nd largest position. Forsta AP Fonden's holdings in Home Depot were worth $97,853,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Asset Planning Services Inc. LA ADV raised its stake in 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 valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the last quarter. GAMMA Investing LLC grew its position in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after buying an additional 10,210,851 shares during the last quarter. Northern Trust Corp grew its position in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Castlekeep Investment Advisors LLC acquired a new position in Home Depot in the 4th quarter valued at $471,189,000. Finally, Charles Schwab Investment Management Inc. raised its position in Home Depot by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock worth $5,282,398,000 after buying an additional 891,326 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Transactions at Home Depot

In related 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of HD traded up $1.60 during midday trading on Friday, hitting $387.77. 2,326,668 shares of the company traded hands, 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 debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a market cap of $385.80 billion, a P/E ratio of 26.31, a PEG ratio of 3.69 and a beta of 1.00. The stock has a 50-day moving average of $367.64 and a 200-day moving average of $372.26.

Home Depot (NYSE:HD - Get Free Report) last issued its 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 during 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 firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $3.63 EPS. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HD shares. Guggenheim reiterated a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, May 21st. Royal Bank Of Canada cut their target price on Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and increased their price target for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, TD Securities lowered Home Depot to a "buy" rating in a report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, 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.