US Bancorp DE Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

Key Points

• US Bancorp DE reduced its stake in The Home Depot, holding approximately 1,398,180 shares after selling 3,667 shares, representing a 0.3% decrease in its position.
• The Home Depot reported earnings of $3.56 per share for the last quarter, which missed analysts' estimates by $0.03, despite revenues increasing by 9.4% compared to the same period last year.
• The company recently announced a quarterly dividend of $2.30 per share, resulting in an annualized dividend of $9.20 with a yield of 2.5%.

US Bancorp DE trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,398,180 shares of the home improvement retailer's stock after selling 3,667 shares during the quarter. US Bancorp DE owned about 0.14% of Home Depot worth $512,422,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HD. Nicolet Advisory Services LLC grew its holdings in Home Depot by 6.6% in the first quarter. Nicolet Advisory Services LLC now owns 20,251 shares of the home improvement retailer's stock valued at $7,161,000 after purchasing an additional 1,247 shares during the period. Momentous Wealth Management Inc. acquired a new stake in shares of Home Depot in the first quarter worth approximately $352,000. EFG Asset Management Americas Corp. boosted its stake in shares of Home Depot by 2.7% in the first quarter. EFG Asset Management Americas Corp. now owns 3,901 shares of the home improvement retailer's stock worth $1,430,000 after acquiring an additional 103 shares during the last quarter. Ackerman Asset Management LLC acquired a new position in Home Depot during the first quarter worth $281,000. Finally, Pasadena Private Wealth LLC boosted its stake in Home Depot by 6.1% during the first quarter. Pasadena Private Wealth LLC now owns 768 shares of the home improvement retailer's stock worth $281,000 after buying an additional 44 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 1.2%

NYSE:HD opened at $367.62 on Friday. The stock has a market cap of $365.76 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.54 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 1 year low of $326.31 and a 1 year high of $439.37. The stock has a 50-day simple moving average of $365.63 and a 200-day simple moving average of $373.53.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 earnings per share. As a group, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors 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 dividend on an annualized basis and a dividend yield of 2.5%. Home Depot's dividend payout ratio is 62.42%.

Analyst Ratings Changes

A number of equities analysts have weighed in on HD shares. Gordon Haskett boosted their price objective on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Guggenheim restated a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Stifel Nicolaus upgraded Home Depot from a "hold" rating to a "buy" rating and lifted their target price for the company from $405.00 to $425.00 in a research report on Wednesday, May 21st. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Monday, June 30th. Seven research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of the company's stock in a transaction that occurred on 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 directly owned 17,367 shares of the company's stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president directly 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 corporate insiders.

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.

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