Forsta AP Fonden Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Forsta AP Fonden decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 267,000 shares of the home improvement retailer’s stock after selling 5,900 shares during the quarter. Home Depot comprises about 0.7% of Forsta AP Fonden’s investment portfolio, making the stock its 22nd largest position. Forsta AP Fonden’s holdings in Home Depot were worth $97,853,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Brighton Jones LLC increased its position in shares of Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after purchasing an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer’s stock worth $4,747,000 after buying an additional 565 shares during the period. FIL Ltd increased its position in Home Depot by 14.3% during the fourth quarter. FIL Ltd now owns 120,618 shares of the home improvement retailer’s stock valued at $46,919,000 after acquiring an additional 15,075 shares during the last quarter. Phoenix Financial Ltd. increased its position in Home Depot by 62.7% during the fourth quarter. Phoenix Financial Ltd. now owns 32,040 shares of the home improvement retailer’s stock valued at $12,464,000 after acquiring an additional 12,342 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of Home Depot by 7.0% in the fourth quarter. Scotia Capital Inc. now owns 480,251 shares of the home improvement retailer’s stock valued at $186,826,000 after acquiring an additional 31,243 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Monday, June 30th. Truist Financial boosted their price objective on Home Depot from $393.00 to $417.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. TD Securities downgraded Home Depot to a “buy” rating in a research report on Monday, June 2nd. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Finally, Guggenheim reissued a “buy” rating and set a $450.00 target price 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 given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Stock Down 0.3%

Shares of HD stock opened at $385.79 on Friday. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The company has a market cap of $383.83 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 3.68 and a beta of 1.00. The stock’s fifty day moving average price is $367.24 and its 200 day moving average price is $372.74. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last announced 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). The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.63 earnings per share. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s dividend payout ratio is presently 62.42%.

Insider Buying and Selling 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 value 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 trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents 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.

Home Depot 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.