Mackenzie Financial Corp Acquires 223,618 Shares of The Home Depot, Inc. (NYSE:HD)

Key Points

• Mackenzie Financial Corp increased its stake in Home Depot by 34.8%, now owning approximately 866,902 shares valued at $317.7 million.
• Several research analysts have set new price targets for Home Depot, with Guggenheim maintaining a "buy" rating and a target price of $450.00 per share.
• Home Depot reported $3.56 EPS for the last quarter, slightly missing analysts' expectations but showing a 9.4% increase in quarterly revenue year-over-year.

Mackenzie Financial Corp raised its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 866,902 shares of the home improvement retailer's stock after purchasing an additional 223,618 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of Home Depot worth $317,711,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Abbot Financial Management Inc. increased its holdings in shares of Home Depot by 2.6% during the first quarter. Abbot Financial Management Inc. now owns 8,097 shares of the home improvement retailer's stock worth $2,968,000 after buying an additional 208 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV increased its position in shares of Home Depot by 7.3% during the first quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 10,077 shares of the home improvement retailer's stock worth $3,693,000 after buying an additional 685 shares during the period. Beacon Bridge Wealth Partners LLC grew its holdings in Home Depot by 2.4% during the 1st quarter. Beacon Bridge Wealth Partners LLC now owns 1,690 shares of the home improvement retailer's stock worth $620,000 after acquiring an additional 39 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in Home Depot by 0.5% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 27,708 shares of the home improvement retailer's stock worth $10,155,000 after purchasing an additional 151 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of Home Depot by 10.4% during the 1st quarter. Metis Global Partners LLC now owns 65,633 shares of the home improvement retailer's stock valued at $24,054,000 after acquiring an additional 6,160 shares during the period. 70.86% of the stock is currently owned by institutional investors.

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 dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president directly owned 17,367 shares of the company's stock, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Fahim Siddiqui sold 2,600 shares of the 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 sale, the executive vice president owned 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 Trading Down 0.9%

NYSE:HD traded down $3.47 during trading hours on Thursday, reaching $368.61. The company's stock had a trading volume of 1,261,228 shares, compared to its average volume of 3,533,002. 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 firm has a market capitalization of $366.74 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 3.59 and a beta of 1.00. The firm has a 50-day simple moving average of $365.60 and a 200-day simple moving average of $373.68. 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 released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 8.98% and a return on equity of 242.51%. The company's revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $3.63 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Thursday, June 5th. Home Depot's dividend payout ratio is 62.42%.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Wells Fargo & Company set a $420.00 price objective on shares of Home Depot and gave the stock an "overweight" rating in a research report on Monday, June 30th. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Jefferies Financial Group reduced their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Guggenheim restated a "buy" rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and increased their target price for the stock from $405.00 to $425.00 in a research report on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.