Invesco Ltd. Buys 143,208 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Invesco Ltd. increased its stake in The Home Depot by 4.7%, acquiring an additional 143,208 shares, bringing its total holdings to approximately 3.17 million shares valued at over $1.16 billion.
• Home Depot reported earnings of $3.56 per share for the latest quarter, slightly missing analysts' expectations, but achieved a revenue of $39.86 billion, surpassing forecasts.
• The company declared a quarterly dividend of $2.30 per share, representing a 2.4% yield, with its dividend payout ratio at 62.42%.

Invesco Ltd. raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,171,002 shares of the home improvement retailer's stock after purchasing an additional 143,208 shares during the period. Invesco Ltd. owned approximately 0.32% of Home Depot worth $1,162,141,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invst LLC boosted its stake in Home Depot by 0.4% during the 4th quarter. Invst LLC now owns 6,738 shares of the home improvement retailer's stock valued at $2,621,000 after purchasing an additional 28 shares during the last quarter. Financial Insights Inc. boosted its stake in Home Depot by 3.3% during the 1st quarter. Financial Insights Inc. now owns 880 shares of the home improvement retailer's stock valued at $323,000 after purchasing an additional 28 shares during the last quarter. Wayfinding Financial LLC boosted its stake in Home Depot by 1.2% during the 1st quarter. Wayfinding Financial LLC now owns 2,353 shares of the home improvement retailer's stock valued at $862,000 after purchasing an additional 28 shares during the last quarter. Pure Portfolios Holdings LLC boosted its stake in Home Depot by 4.7% during the 1st quarter. Pure Portfolios Holdings LLC now owns 623 shares of the home improvement retailer's stock valued at $228,000 after purchasing an additional 28 shares during the last quarter. Finally, First Interstate Bank boosted its stake in Home Depot by 0.3% during the 1st quarter. First Interstate Bank now owns 9,020 shares of the home improvement retailer's stock valued at $3,306,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

HD has been the topic of several recent analyst reports. Gordon Haskett lifted their target price on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Jefferies Financial Group dropped their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Telsey Advisory Group reissued an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research report on Monday, June 30th. Finally, Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Seven 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $427.38.

Home Depot Price Performance

NYSE:HD traded up $5.78 during midday trading on Wednesday, hitting $401.78. The company had a trading volume of 713,395 shares, compared to its average volume of 3,484,325. The Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37. The stock's fifty day moving average price is $368.49 and its 200-day moving average price is $371.95. The company has a market capitalization of $399.75 billion, a PE ratio of 27.31, a P/E/G ratio of 3.68 and a beta of 1.00. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last posted 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 business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.63 earnings per share. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a $2.30 dividend. 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 presently 62.42%.

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.