The Home Depot, Inc. (NYSE:HD) is Kimelman & Baird LLC’s 8th Largest Position

Kimelman & Baird LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,520 shares of the home improvement retailer’s stock after selling 1,691 shares during the period. Home Depot accounts for 3.9% of Kimelman & Baird LLC’s holdings, making the stock its 8th biggest position. Kimelman & Baird LLC’s holdings in Home Depot were worth $49,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. lifted its holdings in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB grew its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the period. LGT Group Foundation increased its stake in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Home Depot by 14.3% during the 3rd quarter. Cerity Partners LLC now owns 673,876 shares of the home improvement retailer’s stock worth $273,055,000 after purchasing an additional 84,062 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HD. Guggenheim increased their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Royal Bank of Canada increased their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Barclays upped their target price on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Finally, Melius Research started coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $431.37 on Friday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $428.51 billion, a price-to-earnings ratio of 29.31, a price-to-earnings-growth ratio of 2.97 and a beta of 1.03. The business has a 50-day moving average of $410.60 and a 200 day moving average of $375.06. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business posted $3.81 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. Corporate insiders own 0.10% of the company’s stock.

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.