Arizona State Retirement System Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Arizona State Retirement System reduced its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 281,362 shares of the home improvement retailer's stock after selling 3,212 shares during the period. Home Depot accounts for approximately 0.7% of Arizona State Retirement System's investment portfolio, making the stock its 18th biggest position. Arizona State Retirement System's holdings in Home Depot were worth $97,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BCK Partners Inc. acquired a new position in shares of Home Depot in the first quarter valued at about $2,933,000. Fairfield Bush & CO. acquired a new position in shares of Home Depot in the first quarter valued at about $27,000. Ergoteles LLC acquired a new position in shares of Home Depot in the first quarter valued at about $1,554,000. Equitable Holdings Inc. grew its stake in shares of Home Depot by 7.4% in the first quarter. Equitable Holdings Inc. now owns 14,628 shares of the home improvement retailer's stock valued at $4,379,000 after acquiring an additional 1,007 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Home Depot by 3.2% in the first quarter. First Trust Advisors LP now owns 791,318 shares of the home improvement retailer's stock valued at $236,865,000 after acquiring an additional 24,640 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 0.1 %

NYSE:HD traded up $0.19 on Friday, reaching $357.87. 3,242,816 shares of the stock traded hands, compared to its average volume of 3,583,776. The firm has a market capitalization of $354.66 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 2.38 and a beta of 0.98. The company's 50 day moving average is $370.30 and its 200-day moving average is $336.71. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating analysts' consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The company's revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.38 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This is an increase from Home Depot's previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.51%. Home Depot's dividend payout ratio (DPR) is 59.60%.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company's stock, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HD shares. TD Cowen upped their price target on shares of Home Depot from $415.00 to $440.00 and gave the company an "outperform" rating in a research note on Monday, March 4th. HSBC restated a "reduce" rating and issued a $323.00 price target on shares of Home Depot in a research note on Wednesday. Barclays raised shares of Home Depot from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $425.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Zelman & Associates raised shares of Home Depot from a "neutral" rating to an "outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $376.35.

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.