Alberta Investment Management Corp Raises Position in Home Depot Inc (NYSE:HD)

Alberta Investment Management Corp grew its holdings in shares of Home Depot Inc (NYSE:HD) by 110.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the home improvement retailer’s stock after purchasing an additional 6,100 shares during the period. Alberta Investment Management Corp’s holdings in Home Depot were worth $2,166,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of Home Depot in the 4th quarter valued at $2,558,090,000. Jennison Associates LLC increased its position in shares of Home Depot by 27.3% in the 1st quarter. Jennison Associates LLC now owns 5,304,289 shares of the home improvement retailer’s stock valued at $990,364,000 after acquiring an additional 1,138,587 shares during the period. AQR Capital Management LLC increased its position in shares of Home Depot by 75.1% in the 4th quarter. AQR Capital Management LLC now owns 2,593,292 shares of the home improvement retailer’s stock valued at $563,212,000 after acquiring an additional 1,112,175 shares during the period. Swiss National Bank increased its position in shares of Home Depot by 21.4% in the 1st quarter. Swiss National Bank now owns 4,387,264 shares of the home improvement retailer’s stock valued at $819,146,000 after acquiring an additional 774,600 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its position in shares of Home Depot by 13.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,218,065 shares of the home improvement retailer’s stock valued at $1,139,473,000 after acquiring an additional 605,158 shares during the period. Hedge funds and other institutional investors own 69.75% of the company’s stock.

HD has been the topic of several research reports. Bank of America upped their target price on Home Depot from $238.00 to $250.00 and gave the company a “neutral” rating in a research report on Tuesday. SunTrust Banks cut their price target on Home Depot from $240.00 to $220.00 and set a “hold” rating on the stock in a research report on Thursday, April 16th. Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating and set a $231.00 price target on the stock in a research report on Thursday, April 30th. Jefferies Financial Group increased their price target on Home Depot from $228.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Barclays reaffirmed a “buy” rating and set a $260.00 price target (up from $235.00) on shares of Home Depot in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $251.03.

HD opened at $241.88 on Friday. The company’s 50 day simple moving average is $213.77 and its two-hundred day simple moving average is $219.47. Home Depot Inc has a 1-year low of $140.63 and a 1-year high of $248.32. The firm has a market capitalization of $258.73 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.22 and a beta of 1.03.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 19th. The home improvement retailer reported $2.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.27 by ($0.19). Home Depot had a negative return on equity of 496.11% and a net margin of 9.79%. The business had revenue of $28.26 billion during the quarter, compared to analysts’ expectations of $27.59 billion. During the same period last year, the business earned $2.27 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, sell-side analysts forecast that Home Depot Inc will post 9.79 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, June 3rd. Home Depot’s dividend payout ratio (DPR) is 58.54%.

In other news, EVP William G. Lennie sold 17,993 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $236.02, for a total transaction of $4,246,707.86. Following the completion of the sale, the executive vice president now owns 54,405 shares in the company, valued at approximately $12,840,668.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William G. Lennie sold 9,848 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $234.34, for a total transaction of $2,307,780.32. Following the sale, the executive vice president now owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

About Home Depot

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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

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