The Home Depot, Inc. $HD Holdings Lowered by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions reduced its Home Depot stake by 17.9% in the second quarter, selling 37,795 shares and retaining 173,155 shares valued at approximately $61.1 million.
• Despite the reduction, institutional ownership remains substantial at 70.86%, with major investors including Vanguard, State Street, Geode Capital and Charles Schwab increasing their positions.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $373.89. Home Depot recently exceeded quarterly EPS and revenue estimates and pays an annualized dividend of $9.32 per share, yielding about 2.8%.

ABN Amro Investment Solutions trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 173,155 shares of the home improvement retailer's stock after selling 37,795 shares during the period. ABN Amro Investment Solutions' holdings in Home Depot were worth $61,068,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Home Depot by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 99,635,779 shares of the home improvement retailer's stock valued at $34,284,672,000 after buying an additional 1,325,748 shares during the last quarter. State Street Corp lifted its position in Home Depot by 1.8% during the 4th quarter. State Street Corp now owns 46,925,342 shares of the home improvement retailer's stock worth $16,147,010,000 after acquiring an additional 825,164 shares during the last quarter. Geode Capital Management LLC lifted its position in Home Depot by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 23,756,142 shares of the home improvement retailer's stock worth $8,151,344,000 after acquiring an additional 343,153 shares during the last quarter. Bank of America Corp DE boosted its holdings in Home Depot by 1.6% during the first quarter. Bank of America Corp DE now owns 16,314,357 shares of the home improvement retailer's stock valued at $5,365,629,000 after acquiring an additional 250,825 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Home Depot by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,471,132 shares of the home improvement retailer's stock valued at $5,323,620,000 after purchasing an additional 1,113,114 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

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Analyst Upgrades and Downgrades

Several research firms recently weighed in on HD. Oppenheimer cut their price objective on Home Depot from $405.00 to $310.00 and set a "market perform" rating for the company in a research report on Monday, May 18th. Gordon Haskett lifted their price target on Home Depot from $320.00 to $330.00 in a research report on Friday, June 12th. HSBC cut their price target on Home Depot from $392.00 to $310.00 and set a "hold" rating for the company in a report on Wednesday, May 20th. Guggenheim reissued a "buy" rating and issued a $425.00 price objective on shares of Home Depot in a research report on Monday, July 20th. Finally, Bank of America assumed coverage on shares of Home Depot in a research note on Tuesday, May 5th. They issued a "buy" rating and a $374.00 price objective on the stock. Eighteen analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and a consensus price target of $373.89.

Home Depot Stock Performance

Shares of NYSE:HD opened at $338.44 on Tuesday. The company has a debt-to-equity ratio of 3.23, a current ratio of 1.04 and a quick ratio of 0.28. The business's fifty day moving average price is $339.74 and its two-hundred day moving average price is $341.23. The Home Depot, Inc. has a fifty-two week low of $289.10 and a fifty-two week high of $426.75. The stock has a market capitalization of $337.47 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 4.08 and a beta of 0.95.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 19th. The home improvement retailer reported $3.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.41 by $0.02. Home Depot had a return on equity of 117.24% and a net margin of 8.41%.The company had revenue of $41.77 billion during the quarter, compared to analysts' expectations of $41.59 billion. During the same period last year, the business earned $3.56 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. As a group, analysts predict that The Home Depot, Inc. will post 15 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Thursday, June 4th were given a dividend of $2.33 per share. The ex-dividend date was Thursday, June 4th. This represents a $9.32 dividend on an annualized basis and a dividend yield of 2.8%. Home Depot's dividend payout ratio (DPR) is 66.19%.

Trending Headlines about Home Depot

Here are the key news stories impacting Home Depot this week:

• Positive Sentiment: Wall Street expects approximately $4.72–$4.73 in earnings per share and $47.2–$47.4 billion in revenue. Stronger-than-expected results, comparable-sales growth or an improved outlook could support a recovery. Home Depot Q2 earnings preview
• Positive Sentiment: Professional-contractor demand may be helping offset weak housing turnover and elevated mortgage rates. Investors will look for evidence that “Pro” customers and larger projects are sustaining sales. Home Depot earnings preview: Pro demand and housing
• Positive Sentiment: The Bill & Melinda Gates Foundation reportedly initiated a new Home Depot position during the second quarter, providing a modest institutional-investor vote of confidence. Gates Foundation portfolio changes

Home Depot Profile

The Home Depot, Inc NYSE: HD is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.

Home Depot's core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.

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