Invesco Ltd. Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Invesco Ltd. lowered its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 31.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,429,281 shares of the home improvement retailer’s stock after selling 1,099,943 shares during the period. Invesco Ltd. owned about 0.24% of Home Depot worth $727,156,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Rinkey Investments bought a new position in Home Depot during the 4th quarter worth approximately $25,000. GW&K Investment Management LLC bought a new position in Home Depot during the 1st quarter worth approximately $25,000. Tobam bought a new position in Home Depot during the 1st quarter worth approximately $27,000. Fairfield Bush & CO. bought a new position in Home Depot during the 1st quarter worth approximately $27,000. Finally, Joseph Group Capital Management acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $1,705,000. Hedge funds and other institutional investors own 68.66% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Matt Carey sold 12,650 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $316.26, for a total transaction of $4,000,689.00. Following the sale, the executive vice president now owns 34,522 shares in the company, valued at $10,917,927.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. Robert W. Baird increased their price target on Home Depot from $335.00 to $360.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 16th. Morgan Stanley increased their price target on Home Depot from $350.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 17th. Evercore ISI dropped their price target on Home Depot to $360.00 in a research report on Thursday, June 9th. Jefferies Financial Group dropped their price target on Home Depot from $420.00 to $400.00 and set a “buy” rating on the stock in a research report on Wednesday, May 18th. Finally, StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $365.95.

Home Depot Trading Down 0.0 %

Home Depot stock opened at $299.77 on Friday. The firm has a market cap of $306.88 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 1.61 and a beta of 0.99. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $420.61. The firm’s 50 day moving average price is $300.92 and its two-hundred day moving average price is $302.14. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data on Tuesday, August 16th. The home improvement retailer reported $5.05 earnings per share for the quarter, topping the consensus estimate of $4.95 by $0.10. The business had revenue of $43.79 billion during the quarter, compared to analyst estimates of $43.33 billion. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $4.53 EPS. On average, research analysts predict that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot announced that its Board of Directors has initiated a stock repurchase program on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase up to 4.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be paid a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, August 31st. Home Depot’s dividend payout ratio is presently 46.71%.

Home Depot Profile

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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.

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