Handelsbanken Fonder AB Has $131.89 Million Position in The Home Depot, Inc. (NYSE:HD)

Handelsbanken Fonder AB lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 359,882 shares of the home improvement retailer’s stock after selling 8,354 shares during the quarter. Handelsbanken Fonder AB’s holdings in Home Depot were worth $131,893,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the 4th quarter valued at $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot in the 4th quarter valued at $32,000. Quarry LP lifted its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC bought a new position in Home Depot during the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 0.8%

HD stock opened at $368.15 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a market cap of $366.28 billion, a P/E ratio of 25.01, a PEG ratio of 4.03 and a beta of 1.02. The business has a fifty day moving average of $361.75 and a 200-day moving average of $383.94.

Home Depot (NYSE:HD) last released 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 business had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.63 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is currently 62.42%.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s 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 now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’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 value of $1,996,327.68. Following the completion of the transaction, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. This represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Morgan Stanley reissued an “overweight” rating and issued a $415.00 price target (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Gordon Haskett upped their target price on shares of Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. Finally, Telsey Advisory Group reissued an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. Seven research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.