The Home Depot, Inc. (NYSE:HD) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its position in The Home Depot, Inc. (NYSE:HD) by 2.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,356,011 shares of the home improvement retailer’s stock after selling 36,571 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Home Depot were worth $549,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC boosted its stake in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Capital City Trust Co. FL grew its stake in shares of Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after buying an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. increased its holdings in shares of Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares in the last quarter. Finally, Acorn Creek Capital LLC lifted its stake in shares of Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 2.5 %

Home Depot stock opened at $410.18 on Friday. The firm has a market capitalization of $407.43 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm’s fifty day moving average price is $402.43 and its two-hundred day moving average price is $368.30. The Home Depot, Inc. has a 1-year low of $306.48 and a 1-year high of $421.56. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for 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 revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.81 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, TD Cowen raised their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was 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 owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

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.