The Home Depot, Inc. (NYSE:HD) Position Lessened by Avanza Fonder AB

Avanza Fonder AB reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,858 shares of the home improvement retailer's stock after selling 7,108 shares during the quarter. Home Depot makes up 1.2% of Avanza Fonder AB's holdings, making the stock its 12th largest position. Avanza Fonder AB's holdings in Home Depot were worth $35,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First National Bank of Mount Dora Trust Investment Services grew its holdings in Home Depot by 14.9% in the 1st quarter. First National Bank of Mount Dora Trust Investment Services now owns 19,391 shares of the home improvement retailer's stock valued at $7,107,000 after buying an additional 2,512 shares in the last quarter. Sonora Investment Management Group LLC increased its stake in Home Depot by 1.0% during the 1st quarter. Sonora Investment Management Group LLC now owns 54,208 shares of the home improvement retailer's stock worth $19,867,000 after buying an additional 556 shares during the period. Accurate Wealth Management LLC increased its stake in shares of Home Depot by 8.7% during the first quarter. Accurate Wealth Management LLC now owns 9,920 shares of the home improvement retailer's stock worth $3,510,000 after buying an additional 798 shares during the period. Fiduciary Financial Group LLC grew its stake in shares of Home Depot by 6.4% during the first quarter. Fiduciary Financial Group LLC now owns 1,790 shares of the home improvement retailer's stock worth $633,000 after purchasing an additional 107 shares in the last quarter. Finally, Simplicity Wealth LLC boosted its position in shares of Home Depot by 217.2% in the 1st quarter. Simplicity Wealth LLC now owns 12,518 shares of the home improvement retailer's stock valued at $4,588,000 after purchasing an additional 8,571 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Down 2.1%

Shares of HD traded down $7.56 during midday trading on Wednesday, hitting $360.35. 3,789,459 shares of the company's stock traded hands, compared to its average volume of 3,413,105. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm's fifty day moving average is $361.75 and its 200-day moving average is $383.94. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The stock has a market capitalization of $358.52 billion, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the previous year, the firm posted $3.63 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.55%. Home Depot's dividend payout ratio (DPR) is 62.42%.

Insiders Place Their Bets

In related news, 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 value of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 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 disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HD has been the subject of several research reports. TD Securities downgraded Home Depot to a "buy" rating in a research note on Monday, June 2nd. Evercore ISI set a $400.00 price target on shares of Home Depot and gave the company an "outperform" rating in a report on Thursday, May 22nd. Robert W. Baird reduced their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 21st. Sanford C. Bernstein reiterated a "market perform" rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research report on Wednesday, May 21st. Finally, Mizuho decreased their target price on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.