By otakuyassine3@gmail.com 
Ignite Planners LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 0.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,744 shares of the home improvement retailer’s stock after selling 30 shares during the period. Ignite Planners LLC’s holdings in Home Depot were worth $2,235,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA grew its position in Home Depot by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,392,582 shares of the home improvement retailer’s stock worth $479,382,000 after purchasing an additional 46,474 shares during the last quarter. Wulff Hansen & CO. grew its position in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Luts & Greenleigh Group Inc. purchased a new position in Home Depot during the 2nd quarter worth $1,563,000. Excalibur Management Corp grew its position in Home Depot by 0.8% during the 2nd quarter. Excalibur Management Corp now owns 5,078 shares of the home improvement retailer’s stock worth $1,748,000 after purchasing an additional 40 shares during the last quarter. Finally, GDS Wealth Management grew its position in Home Depot by 12.2% during the 2nd quarter. GDS Wealth Management now owns 32,762 shares of the home improvement retailer’s stock worth $11,278,000 after purchasing an additional 3,559 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on HD. TD Cowen raised their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Truist Financial raised their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Melius Research initiated coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Bank of America raised their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.
Check Out Our Latest Research Report on Home Depot
Insiders Place Their Bets
In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.
Home Depot Stock Performance
Shares of HD opened at $392.98 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $390.37 billion, a P/E ratio of 26.70, a PEG ratio of 2.90 and a beta of 1.05. The company has a 50-day moving average of $405.88 and a two-hundred day moving average of $386.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.
Home Depot (NYSE:HD – Get Free Report) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.81 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.
Home Depot Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.
Home Depot Company 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.
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