State of Alaska Department of Revenue Has $44.84 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

State of Alaska Department of Revenue reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.3% during the first quarter, Holdings Channel.com reports. The fund owned 116,890 shares of the home improvement retailer’s stock after selling 2,725 shares during the period. Home Depot makes up about 0.5% of State of Alaska Department of Revenue’s portfolio, making the stock its 28th biggest position. State of Alaska Department of Revenue’s holdings in Home Depot were worth $44,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. Cape Investment Advisory Inc. grew its holdings in Home Depot by 1.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after buying an additional 28 shares in the last quarter. Optas LLC grew its holdings in Home Depot by 1.7% during the fourth quarter. Optas LLC now owns 1,752 shares of the home improvement retailer’s stock worth $607,000 after buying an additional 29 shares in the last quarter. STAR Financial Bank grew its holdings in Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after buying an additional 29 shares in the last quarter. Harvest Investment Advisors LLC grew its holdings in Home Depot by 0.8% during the third quarter. Harvest Investment Advisors LLC now owns 3,815 shares of the home improvement retailer’s stock worth $1,153,000 after buying an additional 30 shares in the last quarter. Finally, Armstrong Henry H Associates Inc. grew its holdings in Home Depot by 0.3% during the fourth quarter. Armstrong Henry H Associates Inc. now owns 10,903 shares of the home improvement retailer’s stock worth $3,778,000 after buying an additional 30 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research report on Friday, May 10th. Guggenheim reaffirmed a “buy” rating and set a $390.00 target price on shares of Home Depot in a research report on Friday, April 5th. DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and raised their target price for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. TD Cowen decreased their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $378.42.

Home Depot Stock Performance

Shares of HD opened at $333.58 on Thursday. The company has a market cap of $330.78 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.31 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The stock has a 50-day moving average price of $338.43 and a 200-day moving average price of $352.56. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.61 by $0.02. The firm had revenue of $36.42 billion during the quarter, compared to the consensus estimate of $36.65 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $3.82 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. Home Depot’s dividend payout ratio is 60.36%.

Insider Activity at Home Depot

In related news, EVP Matt Carey sold 56,008 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the transaction, the executive vice president now directly owns 33,325 shares of the company’s stock, valued at approximately $11,503,123.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.10% of the stock is currently owned by insiders.

About Home Depot

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.