State Street Corp Trims Stake in The Home Depot, Inc. (NYSE:HD)

State Street Corp trimmed its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 4.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 45,441,582 shares of the home improvement retailer’s stock after selling 1,982,403 shares during the period. Home Depot comprises 0.9% of State Street Corp’s investment portfolio, making the stock its 13th largest position. State Street Corp’s holdings in Home Depot were worth $18,858,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP raised its position in shares of Home Depot by 1.6% in the third quarter. Quantinno Capital Management LP now owns 1,730 shares of the home improvement retailer’s stock valued at $568,000 after buying an additional 27 shares during the last quarter. Trilogy Capital Inc. grew its position in Home Depot by 4.0% in the 4th quarter. Trilogy Capital Inc. now owns 732 shares of the home improvement retailer’s stock valued at $304,000 after acquiring an additional 28 shares in the last quarter. Smith Anglin Financial LLC boosted its stake in shares of Home Depot by 1.1% in the fourth quarter. Smith Anglin Financial LLC now owns 2,574 shares of the home improvement retailer’s stock valued at $1,068,000 after purchasing an additional 28 shares during the period. Palisades Hudson Asset Management L.P. increased its stake in Home Depot by 1.1% during the 4th quarter. Palisades Hudson Asset Management L.P. now owns 2,518 shares of the home improvement retailer’s stock worth $1,045,000 after buying an additional 28 shares during the period. Finally, Klingman & Associates LLC boosted its position in Home Depot by 0.6% in the 4th quarter. Klingman & Associates LLC now owns 4,640 shares of the home improvement retailer’s stock valued at $1,926,000 after buying an additional 29 shares during the period. Institutional investors and hedge funds own 70.61% of the company’s stock.

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their price target on Home Depot from $406.00 to $365.00 in a report on Wednesday, February 23rd. Morgan Stanley decreased their target price on Home Depot from $420.00 to $380.00 and set an “overweight” rating for the company in a research note on Wednesday, February 23rd. Robert W. Baird decreased their target price on shares of Home Depot from $425.00 to $380.00 in a research note on Tuesday, February 22nd. Wells Fargo & Company decreased their price objective on Home Depot from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Thursday, April 7th. Finally, Telsey Advisory Group cut their price target on Home Depot from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Wednesday, February 23rd. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $373.27.

In other Home Depot news, EVP Hector A. Padilla sold 136 shares of Home Depot stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $289.23, for a total value of $39,335.28. Following the transaction, the executive vice president now owns 11,230 shares of the company’s stock, valued at $3,248,052.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Hector A. Padilla sold 504 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $309.80, for a total value of $156,139.20. The disclosure for this sale can be found here. Insiders have sold 11,933 shares of company stock worth $3,448,197 in the last 90 days. Company insiders own 0.17% of the company’s stock.

NYSE HD traded up $2.68 during trading on Friday, hitting $305.49. The company’s stock had a trading volume of 125,124 shares, compared to its average volume of 4,969,536. The firm has a market cap of $315.68 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.73 and a beta of 0.97. The Home Depot, Inc. has a 52 week low of $279.59 and a 52 week high of $420.61. The firm has a 50 day moving average price of $303.95 and a 200 day moving average price of $348.53. The company has a quick ratio of 0.24, a current ratio of 1.11 and a debt-to-equity ratio of 35.47.

Home Depot (NYSE:HDGet Rating) last posted its earnings results on Tuesday, May 17th. The home improvement retailer reported $4.09 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.41. Home Depot had a net margin of 10.83% and a negative return on equity of 21,952.16%. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $36.78 billion. During the same quarter in the previous year, the firm posted $3.86 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 16.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, June 2nd will be issued a dividend of $1.90 per share. The ex-dividend date is Wednesday, June 1st. This represents a $7.60 dividend on an annualized basis and a yield of 2.49%. Home Depot’s dividend payout ratio is 48.25%.

Home Depot Profile (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

See Also

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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