State Street Corp Has $13.66 Billion Stake in The Home Depot, Inc. (NYSE:HD)

State Street Corp grew its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 0.4% in the first quarter, HoldingsChannel.com reports. The fund owned 45,622,114 shares of the home improvement retailer’s stock after acquiring an additional 180,532 shares during the quarter. Home Depot accounts for 0.7% of State Street Corp’s holdings, making the stock its 19th biggest position. State Street Corp’s holdings in Home Depot were worth $13,656,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in HD. Ethic Inc. grew its position in shares of Home Depot by 10.6% during the 1st quarter. Ethic Inc. now owns 38,387 shares of the home improvement retailer’s stock worth $11,490,000 after buying an additional 3,679 shares during the period. Greenline Partners LLC lifted its position in shares of Home Depot by 21.1% during the 1st quarter. Greenline Partners LLC now owns 16,323 shares of the home improvement retailer’s stock valued at $4,886,000 after acquiring an additional 2,843 shares during the period. Samalin Investment Counsel LLC lifted its position in shares of Home Depot by 52.1% during the 1st quarter. Samalin Investment Counsel LLC now owns 1,746 shares of the home improvement retailer’s stock valued at $523,000 after acquiring an additional 598 shares during the period. Prelude Capital Management LLC acquired a new position in shares of Home Depot during the 1st quarter valued at $209,000. Finally, Echo Street Capital Management LLC lifted its position in shares of Home Depot by 793.9% during the 1st quarter. Echo Street Capital Management LLC now owns 9,556 shares of the home improvement retailer’s stock valued at $2,860,000 after acquiring an additional 8,487 shares during the period. 68.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HD. Citigroup boosted their target price on shares of Home Depot from $327.00 to $348.00 in a research report on Friday, May 20th. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James boosted their target price on shares of Home Depot from $340.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Jefferies Financial Group dropped their target price on shares of 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, Evercore ISI lowered their price objective on shares of Home Depot to $360.00 in a report on Thursday, June 9th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.95.

Home Depot Stock Performance

Shares of HD stock opened at $299.77 on Friday. The firm has a 50-day moving average of $300.92 and a 200-day moving average of $302.14. The company has a market cap of $306.88 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.61 and a beta of 0.99. The company has a debt-to-equity ratio of 165.70, a current ratio of 1.18 and a quick ratio of 0.25. The Home Depot, Inc. has a one year low of $264.51 and a one year high of $420.61.

Home Depot (NYSE:HDGet Rating) last announced its earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, beating the consensus estimate of $4.95 by $0.10. The company had revenue of $43.79 billion during the quarter, compared to the consensus estimate of $43.33 billion. Home Depot had a net margin of 10.88% and a negative return on equity of 3,166.43%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.53 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 16.56 EPS for the current fiscal year.

Home Depot Dividend Announcement

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

Home Depot declared that its board has authorized a stock buyback plan on Thursday, August 18th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the home improvement retailer to reacquire up to 4.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 12,650 shares of the stock in a transaction dated 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 completion of the transaction, 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 SEC, which is available through this link. 0.17% of the stock is owned by company insiders.

Home Depot Company 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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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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