Handelsbanken Fonder AB Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Handelsbanken Fonder AB lowered its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 359,882 shares of the home improvement retailer's stock after selling 8,354 shares during the period. Handelsbanken Fonder AB's holdings in Home Depot were worth $131,893,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of HD. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the fourth quarter valued at approximately $28,000. Navigoe LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $32,000. Quarry LP boosted its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Up 0.7%

Shares of HD stock traded up $2.53 during trading hours on Thursday, reaching $362.99. 2,918,183 shares of the company's stock were exchanged, compared to its average volume of 3,405,621. The stock's 50 day moving average is $362.33 and its 200-day moving average is $383.33. The company has a market cap of $361.15 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released 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). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the company earned $3.63 earnings per share. Home Depot's revenue was up 9.4% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, June 5th. Home Depot's payout ratio is 62.42%.

Insider Activity at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction 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 sale, the executive vice president now directly owns 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction 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 now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Home Depot from $424.00 to $399.00 and set a "sector perform" rating for the company in a report on Thursday, May 15th. JPMorgan Chase & Co. boosted their price target on Home Depot from $410.00 to $418.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating on shares of Home Depot in a report on Monday, June 2nd. Wedbush reiterated an "outperform" rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus 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.