Jensen Investment Management Inc. Has $110.73 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Key Points

• Jensen Investment Management Inc. significantly reduced its stake in Home Depot by 37.6%, selling 182,114 shares, leaving it with a holding of 302,128 shares valued at approximately $110.7 million.
• Recent analyst reports show a mixed consensus on Home Depot, with a majority of ratings being buy or outperform, and a target price averaging around $426.77.
• Home Depot recently announced a quarterly dividend of $2.30, translating to an annualized yield of 2.4%, as the company continues to experience strong revenue performance.

Jensen Investment Management Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 302,128 shares of the home improvement retailer's stock after selling 182,114 shares during the quarter. Home Depot comprises about 1.2% of Jensen Investment Management Inc.'s investment portfolio, making the stock its 26th biggest holding. Jensen Investment Management Inc.'s holdings in Home Depot were worth $110,727,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HD. Asset Planning Services Inc. LA ADV raised its holdings 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 worth $6,954,431,000 after buying an additional 18,956,701 shares during the period. GAMMA Investing LLC raised its holdings in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares during the period. Northern Trust Corp raised its holdings in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock worth $4,726,186,000 after buying an additional 1,424,857 shares during the period. Castlekeep Investment Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth about $471,189,000. Finally, APG Asset Management N.V. raised its holdings in Home Depot by 559.5% during the 4th quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer's stock worth $387,706,000 after buying an additional 875,591 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Buying and Selling

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company's 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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's 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 transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on HD shares. Gordon Haskett raised their target price on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 target price (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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research note on Monday, June 30th. Finally, Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Home Depot Stock Performance

Home Depot stock traded up $1.60 during trading hours on Friday, reaching $387.77. 2,326,668 shares of the company were exchanged, compared to its average volume of 3,127,176. The firm has a market cap of $385.80 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 3.67 and a beta of 1.00. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a 50-day moving average of $367.64 and a 200 day moving average of $372.52. 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for 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 firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.63 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 dividend on an annualized basis and a yield of 2.4%. Home Depot's dividend payout ratio is presently 62.42%.

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.