Mediolanum International Funds Ltd Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Mediolanum International Funds Ltd reduced its stake in The Home Depot by 1.2%, now holding 145,814 shares valued at approximately $52.2 million, making it the fund's 28th largest investment.
• In recent insider trading, EVP Teresa Wynn Roseborough sold 5,406 shares, resulting in a 23.74% decrease in her ownership, while fellow EVP Fahim Siddiqui sold 2,600 shares, lowering his stake by 24.64%.
• Analysts have set varied price targets for Home Depot, with Evercore ISI providing a target of $400, while the consensus rating for the stock is "Moderate Buy" with an average target price of $426.77.

Mediolanum International Funds Ltd lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 145,814 shares of the home improvement retailer's stock after selling 1,700 shares during the quarter. Home Depot makes up approximately 0.7% of Mediolanum International Funds Ltd's holdings, making the stock its 28th biggest holding. Mediolanum International Funds Ltd's holdings in Home Depot were worth $52,223,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HD. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $29,000. Abound Financial LLC bought a new position in Home Depot in the 1st quarter worth about $31,000. Quarry LP boosted its stake in Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the period. Iron Horse Wealth Management LLC boosted its stake in Home Depot by 86.8% in the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer's stock worth $36,000 after purchasing an additional 46 shares during the period. Finally, Quest 10 Wealth Builders Inc. boosted its position in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer's stock valued at $42,000 after acquiring an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 0.2%

Shares of Home Depot stock traded down $0.82 during midday trading on Wednesday, reaching $376.53. 655,740 shares of the company's stock traded hands, compared to its average volume of 3,532,125. The company has a market cap of $374.62 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The company's 50 day simple moving average is $365.56 and its 200 day simple moving average is $373.69. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37.

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 (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $3.63 earnings per share. Equities analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders 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 2.44%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio is presently 62.42%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction 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 sale, the executive vice president 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 sale was disclosed in a legal filing with the SEC, 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 transaction 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 represents a 24.64% 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.

Analyst Upgrades and Downgrades

HD has been the topic of several research analyst reports. Jefferies Financial Group reduced their target price on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Sanford C. Bernstein restated a "market perform" rating and issued a $398.00 price target (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 price objective on Home Depot and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research report on Monday, June 30th. Finally, Gordon Haskett upped their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Seven 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 data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot 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.