Gulf International Bank UK Ltd Has $20.89 Million Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Gulf International Bank UK Ltd reduced its stake in Home Depot by 25.7% in Q1, selling 19,733 shares, leaving it with 56,988 shares valued at approximately $20.89 million.
• During the same period, Vanguard Group Inc. increased its holdings by 0.8% while Asset Planning Services Inc. reported a massive increase of 99,400.7% in their position.
• Home Depot's most recent earnings report showed a miss in EPS estimates with $3.56 per share versus the expected $3.59, but it reported a year-over-year revenue increase of 9.4%.

Gulf International Bank UK Ltd lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 25.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,988 shares of the home improvement retailer's stock after selling 19,733 shares during the period. Home Depot makes up approximately 0.7% of Gulf International Bank UK Ltd's portfolio, making the stock its 23rd biggest holding. Gulf International Bank UK Ltd's holdings in Home Depot were worth $20,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Home Depot by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after purchasing an additional 720,447 shares during the period. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% in the first 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 purchasing an additional 18,956,701 shares during the period. Charles Schwab Investment Management Inc. grew its position in Home Depot by 6.6% in the first 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 acquiring an additional 891,326 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock worth $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Home Depot by 13.3% during the fourth 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 period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction that occurred on 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 owned 7,951 shares of the company's stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $1,996,327.68. Following the sale, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

Shares of NYSE HD opened at $396.07 on Wednesday. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a 50 day simple moving average of $368.49 and a two-hundred day simple moving average of $371.95. The company has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.87, a P/E/G ratio of 3.68 and a beta of 1.00. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's revenue was up 9.4% on a year-over-year basis. During the same period last year, the business earned $3.63 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HD. DA Davidson cut their price target on shares of Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a research report on Monday, June 30th. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and upped their price target for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Jefferies Financial Group cut their price target on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Finally, Sanford C. Bernstein restated a "market perform" rating and set a $398.00 price target (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Seven research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

About Home Depot

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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