The Home Depot, Inc. (NYSE:HD) is Thornburg Investment Management Inc.’s 8th Largest Position

Thornburg Investment Management Inc. lowered its position in The Home Depot, Inc. (NYSE:HD) by 0.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,374 shares of the home improvement retailer’s stock after selling 912 shares during the quarter. Home Depot accounts for approximately 2.6% of Thornburg Investment Management Inc.’s holdings, making the stock its 8th biggest holding. Thornburg Investment Management Inc. owned 0.05% of Home Depot worth $186,680,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in Home Depot in the 1st quarter valued at about $406,000. Wealth Management Partners LLC grew its holdings in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after buying an additional 36 shares during the period. Arbor Capital Management Inc. ADV grew its holdings in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after buying an additional 221 shares during the period. Disciplined Investors L.L.C. acquired a new position in shares of Home Depot in the 4th quarter valued at about $409,000. Finally, ARS Wealth Advisors Group LLC lifted its stake in shares of Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after purchasing an additional 239 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president directly owned 7,951 shares in the company, valued at $2,919,130.14. This represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HD. Jefferies Financial Group reduced their price objective on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 price objective (up from $410.00) on shares of Home Depot in a research note on Tuesday, May 20th. Mizuho reduced their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Wells Fargo & Company set a $420.00 price objective on Home Depot and gave the company an “overweight” rating in a research note on Monday, June 30th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Home Depot Price Performance

Shares of NYSE HD opened at $377.26 on Tuesday. The Home Depot, Inc. has a twelve month low of $326.31 and a twelve month high of $439.37. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The company has a market capitalization of $375.35 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The business has a 50 day simple moving average of $365.55 and a 200-day simple moving average of $373.66.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm 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 firm posted $3.63 earnings per share. Home Depot’s revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. Home Depot’s payout ratio is currently 62.42%.

About Home Depot

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.