Palisade Asset Management LLC Has $28.49 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Palisade Asset Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,302 shares of the home improvement retailer’s stock after selling 3,667 shares during the quarter. Home Depot comprises approximately 2.8% of Palisade Asset Management LLC’s holdings, making the stock its 5th largest position. Palisade Asset Management LLC’s holdings in Home Depot were worth $28,486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fairway Wealth LLC bought a new stake in Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot in the 2nd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % 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. 0.10% of the stock is owned by insiders.

Home Depot Trading Up 2.3 %

Shares of HD stock opened at $420.01 on Friday. The stock has a fifty day simple moving average of $403.23 and a two-hundred day simple moving average of $368.84. The Home Depot, Inc. has a 52-week low of $308.31 and a 52-week high of $421.56. The firm has a market capitalization of $417.22 billion, a PE ratio of 28.53, a PEG ratio of 2.85 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business posted $3.81 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Analyst Upgrades and Downgrades

A number of analysts have commented on HD shares. Truist Financial lifted their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Guggenheim boosted their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Wells Fargo & Company upped their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

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.