LGT Capital Partners LTD. Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• LGT Capital Partners LTD. acquired an additional 3,500 shares of The Home Depot, Inc., increasing its holdings by 4.6% to a total of 79,322 shares worth approximately $29 million.
• Home Depot reported $3.56 earnings per share for the last quarter, falling slightly short of analysts' expectations, but its revenue of $39.86 billion exceeded estimates by over $600 million.
• Several research firms adjusted their price targets for Home Depot, with the average price target now at $426.77, and the company holding a consensus rating of "Moderate Buy" among analysts.

LGT Capital Partners LTD. lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,322 shares of the home improvement retailer's stock after buying an additional 3,500 shares during the period. LGT Capital Partners LTD.'s holdings in Home Depot were worth $29,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Brighton Jones LLC boosted its position in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after buying an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in Home Depot by 4.9% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after purchasing an additional 565 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new stake in Home Depot in the 4th quarter worth approximately $945,000. Pioneer Trust Bank N A OR boosted its position in Home Depot by 6.4% in the 4th quarter. Pioneer Trust Bank N A OR now owns 710 shares of the home improvement retailer's stock worth $276,000 after purchasing an additional 43 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. purchased a new stake in Home Depot during the fourth quarter worth $116,745,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HD shares. Wells Fargo & Company set a $420.00 price target on Home Depot and gave the stock an "overweight" rating in a research report on Monday, June 30th. Robert W. Baird decreased their price objective on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Guggenheim reissued a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Truist Financial lifted their price objective on Home Depot from $393.00 to $417.00 and gave the stock a "buy" rating in a research 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Up 0.8%

Home Depot stock traded up $2.86 during mid-day trading on Tuesday, hitting $383.68. The company had a trading volume of 529,731 shares, compared to its average volume of 3,516,329. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The business has a fifty day moving average of $366.19 and a 200 day moving average of $372.71. The stock has a market cap of $381.74 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 3.55 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same period in the prior year, the business earned $3.63 EPS. The business's quarterly revenue was up 9.4% compared to the same quarter last year. On average, sell-side analysts expect 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 was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is presently 62.42%.

Insiders Place Their Bets

In related news, 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 transaction 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 represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 transaction, the executive vice president owned 7,951 shares in the company, valued at $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 currently owned by insiders.

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.