Invesco LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Invesco LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.9% in the fourth quarter, Holdings Channel reports. The firm owned 3,656 shares of the home improvement retailer’s stock after selling 228 shares during the period. Invesco LLC’s holdings in Home Depot were worth $1,267,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HD. Congress Wealth Management LLC DE raised its holdings in shares of Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock valued at $26,725,000 after acquiring an additional 3,162 shares in the last quarter. Wolf Group Capital Advisors raised its holdings in Home Depot by 6.1% in the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after purchasing an additional 430 shares in the last quarter. Alliance Wealth Management Group bought a new position in Home Depot in the fourth quarter worth about $253,000. Psagot Value Holdings Ltd. Israel raised its holdings in Home Depot by 8.0% in the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after purchasing an additional 200 shares in the last quarter. Finally, Zullo Investment Group Inc. raised its holdings in Home Depot by 6.6% in the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after purchasing an additional 504 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred 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 owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent research reports. Wedbush boosted their target price on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. The Goldman Sachs Group boosted their target price on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Oppenheimer downgraded shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Royal Bank of Canada boosted their target price on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a report on Monday, February 26th. Finally, Bank of America upped their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $376.35.

Home Depot Trading Down 1.4 %

Home Depot stock opened at $337.93 on Tuesday. 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 12 month low of $274.26 and a 12 month high of $396.87. The stock’s 50 day simple moving average is $369.56 and its two-hundred day simple moving average is $338.82. The firm has a market cap of $334.90 billion, a PE ratio of 22.38, a P/E/G ratio of 2.28 and a beta of 0.98.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced 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 a positive change 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 dividend on an annualized basis and a dividend yield of 2.66%. Home Depot’s dividend payout ratio (DPR) is 59.60%.

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.