KLP Kapitalforvaltning AS Purchases 19,200 Shares of The Home Depot, Inc. (NYSE:HD)

KLP Kapitalforvaltning AS boosted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 5.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 383,042 shares of the home improvement retailer's stock after acquiring an additional 19,200 shares during the period. Home Depot comprises approximately 0.7% of KLP Kapitalforvaltning AS's holdings, making the stock its 23rd biggest holding. KLP Kapitalforvaltning AS's holdings in Home Depot were worth $140,381,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Summit Asset Management LLC grew its stake in Home Depot by 16.8% during the first quarter. Summit Asset Management LLC now owns 6,858 shares of the home improvement retailer's stock worth $2,513,000 after buying an additional 987 shares during the period. Financial Partners Group Inc boosted its stake in shares of Home Depot by 3.6% during the 1st quarter. Financial Partners Group Inc now owns 974 shares of the home improvement retailer's stock valued at $357,000 after buying an additional 34 shares during the last quarter. United Bank boosted its stake in shares of Home Depot by 14.9% during the 1st quarter. United Bank now owns 5,023 shares of the home improvement retailer's stock valued at $1,841,000 after buying an additional 653 shares during the last quarter. Crystal Rock Capital Management boosted its stake in shares of Home Depot by 12.5% during the 1st quarter. Crystal Rock Capital Management now owns 9,447 shares of the home improvement retailer's stock valued at $3,462,000 after buying an additional 1,050 shares during the last quarter. Finally, Garner Asset Management Corp increased its position in shares of Home Depot by 6.5% in the 1st quarter. Garner Asset Management Corp now owns 1,486 shares of the home improvement retailer's stock worth $545,000 after purchasing an additional 91 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the subject of a number of research reports. Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and increased their price target for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Jefferies Financial Group dropped their price objective on shares of Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Gordon Haskett lifted their price objective on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Morgan Stanley reiterated an "overweight" rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Finally, JPMorgan Chase & Co. increased 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. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $426.77.

Insider Activity at Home Depot

In related 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 value of $954,564.00. Following the transaction, the executive vice president directly owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company'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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares in the company, valued at $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. Insiders own 0.10% of the company's stock.

Home Depot Trading Up 1.9%

Shares of HD traded up $7.08 during mid-day trading on Tuesday, reaching $371.12. The company's stock had a trading volume of 3,091,636 shares, compared to its average volume of 3,438,834. The stock has a market cap of $369.24 billion, a PE ratio of 25.18, a P/E/G ratio of 3.46 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 Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company's fifty day moving average price is $366.03 and its two-hundred day moving average price is $374.29.

Home Depot (NYSE:HD - Get Free Report) last issued 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 return on equity of 242.51% and a net margin of 8.98%. The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the business posted $3.63 EPS. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. On average, 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 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 was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. Home Depot's dividend payout ratio 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.