TD Asset Management Inc Sells 27,387 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• TD Asset Management Inc reduced its holdings in The Home Depot by 1.7%, selling 27,387 shares and now owns approximately 1.6 million shares valued at $592 million.
• Insider selling was noted, with EVP Fahim Siddiqui and EVP Teresa Wynn Roseborough selling 2,600 and 5,406 shares respectively, reflecting decreases in their ownership by 24.64% and 23.74%.
• The Home Depot reported a quarterly EPS of $3.56, missing estimates by $0.03, but achieving a revenue of $39.86 billion, exceeding expectations for the quarter.

TD Asset Management Inc lessened its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,617,053 shares of the home improvement retailer's stock after selling 27,387 shares during the quarter. TD Asset Management Inc owned 0.16% of Home Depot worth $592,634,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. bought a new stake in Home Depot in the first quarter worth approximately $406,000. Wealth Management Partners LLC grew its position in Home Depot by 0.6% in the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after acquiring an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV grew its position in Home Depot by 4.8% in the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after acquiring an additional 221 shares in the last quarter. Disciplined Investors L.L.C. bought a new stake in Home Depot in the fourth quarter worth approximately $409,000. Finally, ARS Wealth Advisors Group LLC boosted its holdings in shares of Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after buying an additional 239 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This trade represents 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 hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on 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 $2,919,130.14. The trade was a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HD shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. Stifel Nicolaus raised shares of Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. TD Securities downgraded shares of Home Depot to a "buy" rating in a report on Monday, June 2nd. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Finally, Gordon Haskett upped their price objective on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Price Performance

HD traded down $0.70 during midday trading on Wednesday, hitting $376.64. The company had a trading volume of 676,215 shares, compared to its average volume of 3,532,125. 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 company has a market capitalization of $374.73 billion, a PE ratio of 25.56, a P/E/G ratio of 3.59 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The firm's 50-day simple moving average is $365.56 and its 200-day simple moving average is $373.69.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share 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 net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.63 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot's dividend payout ratio (DPR) 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.