Cardinal Capital Management Inc. Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Cardinal Capital Management Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,097 shares of the home improvement retailer’s stock after selling 362 shares during the period. Cardinal Capital Management Inc.’s holdings in Home Depot were worth $30,379,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HD. Legacy Investment Solutions LLC purchased a new position in Home Depot in the 3rd quarter worth approximately $41,000. Sugar Maple Asset Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the 3rd quarter worth approximately $46,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $47,000. Finally, Quarry LP raised its holdings in shares of Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s 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 sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Mizuho upped their price objective on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Wells Fargo & Company upped their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, DA Davidson boosted their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

HD opened at $414.53 on Friday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. 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 business’s fifty day simple moving average is $407.01 and its 200-day simple moving average is $389.64. The company has a market capitalization of $411.77 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 4.32 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the company earned $3.81 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) 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.