The Home Depot, Inc. (NYSE:HD) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Home Depot, acquiring an additional 23,202 shares, bringing their total holdings to 322,892 shares worth approximately $117.91 million.
• Home Depot reported $3.56 EPS for the quarter, slightly missing estimates, but saw revenues rise to $39.86 billion, exceeding expectations.
• The company recently announced a quarterly dividend of $2.30 per share, with an annual yield of 2.4%, reflecting a payout ratio of 62.42%.

Resona Asset Management Co. Ltd. raised its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 322,892 shares of the home improvement retailer's stock after acquiring an additional 23,202 shares during the quarter. Home Depot makes up 0.7% of Resona Asset Management Co. Ltd.'s portfolio, making the stock its 23rd biggest holding. Resona Asset Management Co. Ltd.'s holdings in Home Depot were worth $117,914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Home Depot by 0.8% during the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock worth $35,360,494,000 after acquiring an additional 720,447 shares during the last quarter. Asset Planning Services Inc. LA ADV boosted its position in Home Depot by 99,400.7% during the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock worth $6,954,431,000 after acquiring an additional 18,956,701 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Home Depot by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Home Depot by 5.5% in the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after purchasing an additional 647,552 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $1,996,327.68. Following the completion of the sale, the executive vice president owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The transaction 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 completion of the sale, the executive vice president directly owned 7,951 shares of the company's stock, 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 insiders.

Home Depot Stock Down 1.6%

Home Depot stock traded down $6.45 during midday trading on Thursday, hitting $400.73. 3,599,312 shares of the stock were exchanged, compared to its average volume of 3,515,108. The company has a 50 day moving average price of $369.19 and a two-hundred day moving average price of $372.20. The firm has a market cap of $398.70 billion, a P/E ratio of 27.19, a P/E/G ratio of 3.76 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results 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 the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. Home Depot's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.63 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.3%. Home Depot's payout ratio is presently 62.42%.

Wall Street Analyst Weigh In

HD has been the topic of a number of research analyst reports. 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. Royal Bank Of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a report on Thursday, May 15th. Wells Fargo & Company set a $420.00 target price on shares of Home Depot and gave the company an "overweight" rating in a research note on Monday, June 30th. Mizuho cut their target price on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Finally, Sanford C. Bernstein reissued a "market perform" rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $427.38.

Home Depot 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.