OVERSEA CHINESE BANKING Corp Ltd Increases Stake in The Home Depot, Inc. (NYSE:HD)

OVERSEA CHINESE BANKING Corp Ltd grew its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 326.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,144 shares of the home improvement retailer's stock after acquiring an additional 28,428 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Home Depot were worth $13,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Navigoe LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $29,000. Abound Financial LLC bought a new stake in shares of Home Depot in the 1st quarter valued at about $31,000. Iron Horse Wealth Management LLC boosted its holdings in shares of 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 valued at $36,000 after buying an additional 46 shares in the last quarter. Quarry LP boosted its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after buying an additional 66 shares in the last quarter. Finally, Sellwood Investment Partners LLC acquired a new stake in Home Depot in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

Shares of NYSE HD opened at $370.15 on Monday. The firm has a market cap of $368.27 billion, a PE ratio of 25.11, a PEG ratio of 3.52 and a beta of 1.00. The firm has a fifty day moving average of $366.14 and a 200 day moving average of $375.29. 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 one year low of $326.31 and a one year 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 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 business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same period last year, the firm earned $3.63 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS 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 given a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.49%. Home Depot's payout ratio is currently 62.42%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated 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 sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the business'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 sale, 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. Corporate insiders own 0.10% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on HD shares. 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. Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Mizuho lowered their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Evercore ISI set a $400.00 target price on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $426.77.

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.

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.