State of Alaska Department of Revenue Boosts Stake in The Home Depot, Inc. (NYSE:HD)

State of Alaska Department of Revenue raised its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 116,372 shares of the home improvement retailer's stock after purchasing an additional 3,120 shares during the period. Home Depot accounts for approximately 0.5% of State of Alaska Department of Revenue's investment portfolio, making the stock its 29th biggest holding. State of Alaska Department of Revenue's holdings in Home Depot were worth $42,649,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Navigoe LLC purchased a new position in Home Depot in the 4th quarter worth $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the 4th quarter worth $32,000. Quarry LP raised 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 acquiring an additional 66 shares during the last quarter. Marshall Investment Management LLC purchased a new position in Home Depot in the 4th quarter worth $41,000. Finally, Sellwood Investment Partners LLC purchased a new position in Home Depot in the 4th quarter worth $39,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now owns 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on 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 now owns 7,951 shares of the company's stock, 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. 0.10% of the stock is owned by insiders.

Home Depot Price Performance

Shares of Home Depot stock traded up $3.18 on Friday, hitting $350.21. 8,001,951 shares of the company were exchanged, compared to its average volume of 3,424,242. 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 company has a 50-day moving average price of $362.65 and a 200 day moving average price of $379.75. The stock has a market capitalization of $348.44 billion, a price-to-earnings ratio of 23.76, a price-to-earnings-growth ratio of 3.32 and a beta of 1.02. 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 announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's quarterly 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. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.63%. The ex-dividend date was Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and lifted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. TD Securities lowered Home Depot to a "buy" rating in a research note on Monday, June 2nd. Sanford C. Bernstein reiterated a "market perform" rating and set a $398.00 price objective (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research note on Friday. Finally, Piper Sandler reduced their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $426.77.

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.