Sumitomo Life Insurance Co. cut its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,924 shares of the home improvement retailer’s stock after selling 224 shares during the period. Sumitomo Life Insurance Co.’s holdings in Home Depot were worth $5,027,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in Home Depot in the 3rd quarter worth about $41,000. Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at approximately $46,000. Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the second quarter valued at approximately $47,000. Finally, Quarry LP grew its stake in Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently issued reports on the stock. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted 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. Bank of America raised their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Barclays increased their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. One 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.
Home Depot Stock Up 0.3 %
HD stock opened at $414.56 on Friday. The company has a market capitalization of $411.81 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The business’s 50 day moving average price is $407.93 and its two-hundred day moving average price is $391.93. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.
Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.81 earnings per share. As a group, analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.
Home Depot Announces Dividend
The firm 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 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.
Insiders Place Their Bets
In related news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by company insiders.
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.
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