BNP Paribas Sells 2,328 Shares of The Home Depot, Inc. (NYSE:HD)

BNP Paribas lowered its position in The Home Depot, Inc. (NYSE:HD) by 6.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,257 shares of the home improvement retailer’s stock after selling 2,328 shares during the period. BNP Paribas’ holdings in Home Depot were worth $13,048,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot in the third quarter valued at about $336,231,000. Blueshift Asset Management LLC bought a new position in shares of Home Depot during the 3rd quarter valued at about $305,000. WorthPointe LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at approximately $295,000. Glenmede Trust Co. NA grew its position in shares of Home Depot by 9.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 604,377 shares of the home improvement retailer’s stock valued at $244,894,000 after purchasing an additional 50,278 shares during the period. Finally, Cynosure Group LLC increased its stake in Home Depot by 57.4% during the 3rd quarter. Cynosure Group LLC now owns 930 shares of the home improvement retailer’s stock worth $377,000 after purchasing an additional 339 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. 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 target for the company. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Stifel Nicolaus lifted their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Morgan Stanley upped their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Truist Financial lifted their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Buying and Selling

In related news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction on 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 owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock worth $15,624,585 in the last three months. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Up 0.2 %

HD stock opened at $429.62 on Wednesday. The company has a market cap of $426.77 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52 week low of $308.59 and a 52 week high of $439.37. The business has a 50-day simple moving average of $405.09 and a 200 day simple moving average of $370.41.

Home Depot (NYSE:HD) last released its 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. 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 period in the prior year, the company earned $3.81 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 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.