King Luther Capital Management Corp Has $451.50 Million Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• King Luther Capital Management Corp cut its stake in The Home Depot, Inc. by 1.0% to approximately $451.5 million, making it the company's 7th largest holding.
• Home Depot reported earnings per share (EPS) of $3.56 for the last quarter, missing analyst estimates by $0.03, while revenue was reported at $39.86 billion.
• The company announced a quarterly dividend of $2.30 per share, resulting in an annualized dividend yield of 2.4% with a payout ratio of 62.42%.

King Luther Capital Management Corp cut its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,231,965 shares of the home improvement retailer's stock after selling 11,947 shares during the quarter. Home Depot accounts for about 2.1% of King Luther Capital Management Corp's portfolio, making the stock its 7th biggest holding. King Luther Capital Management Corp owned about 0.12% of Home Depot worth $451,503,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV lifted its position 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 valued at $6,954,431,000 after buying an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of 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 valued at $5,282,398,000 after buying an additional 891,326 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Home Depot by 13.3% in 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 last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business'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 transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their position. The sale 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 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 value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents 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.

Home Depot Stock Up 0.4%

Shares of HD opened at $387.77 on Friday. The company has a market capitalization of $385.80 billion, a PE ratio of 26.31, a PEG ratio of 3.69 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37. The stock's 50-day moving average price is $367.64 and its two-hundred day moving average price is $372.26. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 earnings per share. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Mizuho cut their price objective on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Jefferies Financial Group dropped their price target on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Gordon Haskett lifted their price target on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. TD Securities lowered Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, DA Davidson lowered their price target on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.