Tokio Marine Asset Management Co. Ltd. Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in The Home Depot by 5.9%, owning 30,280 shares valued at approximately $11.1 million as of the first quarter.
• Several hedge funds recently modified their holdings in Home Depot, with institutional investors now owning 70.86% of the stock.
• Home Depot reported quarterly earnings with $3.56 EPS, missing estimates slightly, while revenue surged 9.4% year-over-year to $39.86 billion.

Tokio Marine Asset Management Co. Ltd. grew its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 30,280 shares of the home improvement retailer's stock after acquiring an additional 1,680 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Home Depot were worth $11,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. Asset Planning Services Inc. LA ADV grew its holdings in shares of Home Depot by 99,400.7% during the 1st 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 period. GAMMA Investing LLC grew its stake in shares of Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after buying an additional 10,210,851 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Home Depot in the 1st quarter worth approximately $2,076,592,000. Northern Trust Corp grew its stake 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 worth $4,726,186,000 after buying an additional 1,424,857 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new stake in shares of Home Depot in the 4th quarter worth approximately $471,189,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

Shares of NYSE HD traded down $6.45 during midday trading on Thursday, hitting $400.73. 3,599,312 shares of the stock traded hands, compared to its average volume of 3,094,821. The firm has a 50-day moving average of $369.83 and a two-hundred day moving average of $372.03. The firm has a market capitalization of $398.70 billion, a P/E ratio of 27.19, a PEG ratio of 3.87 and a beta of 1.00. 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 Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly 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 firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.63 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on HD shares. Evercore ISI set a $400.00 price target on Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Morgan Stanley restated an "overweight" rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Gordon Haskett upped their price target on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their price target on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Finally, Robert W. Baird cut their price target on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of "Moderate Buy" and an average price target of $427.38.

Insider Buying and Selling at Home Depot

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 completion of the sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's 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 completion of the sale, the executive vice president owned 7,951 shares of the company's stock, valued at $2,919,130.14. This trade 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 corporate insiders.

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.