Manitou Investment Management Ltd. Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Manitou Investment Management Ltd. decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 69,048 shares of the home improvement retailer’s stock after selling 4,874 shares during the period. Home Depot makes up about 4.9% of Manitou Investment Management Ltd.’s holdings, making the stock its 8th largest holding. Manitou Investment Management Ltd.’s holdings in Home Depot were worth $25,305,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HD. Vanguard Group Inc. boosted its position in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Home Depot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank purchased a new stake in Home Depot in the fourth quarter valued at approximately $5,032,910,000. Capital Research Global Investors raised its stake in Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock valued at $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $365.20 on Tuesday. The business has a 50 day moving average of $361.51 and a 200 day moving average of $384.05. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market cap of $363.35 billion, a PE ratio of 24.81, a P/E/G ratio of 4.03 and a beta of 1.02. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the company posted $3.63 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.52%. Home Depot’s payout ratio is 62.42%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction dated 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 now owns 7,951 shares in the company, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on HD shares. Royal Bank of Canada decreased their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a report on Thursday, May 15th. Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted 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. Wells Fargo & Company cut their price objective on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average 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.