Sheets Smith Wealth Management cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,117 shares of the home improvement retailer’s stock after selling 40 shares during the period. Sheets Smith Wealth Management’s holdings in The Home Depot were worth $297,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Jensen Investment Management Inc. acquired a new position in The Home Depot during the third quarter valued at $224,716,000. AJO LP raised its position in The Home Depot by 1,377.3% during the third quarter. AJO LP now owns 598,261 shares of the home improvement retailer’s stock valued at $166,142,000 after buying an additional 557,765 shares during the period. Acadian Asset Management LLC raised its position in The Home Depot by 139.2% during the third quarter. Acadian Asset Management LLC now owns 818,182 shares of the home improvement retailer’s stock valued at $227,215,000 after buying an additional 476,103 shares during the period. Morgan Stanley raised its position in The Home Depot by 5.0% during the third quarter. Morgan Stanley now owns 9,970,350 shares of the home improvement retailer’s stock valued at $2,768,863,000 after buying an additional 470,651 shares during the period. Finally, CIBC Private Wealth Group LLC raised its position in The Home Depot by 37.3% during the third quarter. CIBC Private Wealth Group LLC now owns 1,690,406 shares of the home improvement retailer’s stock valued at $469,276,000 after buying an additional 459,661 shares during the period. 68.71% of the stock is currently owned by institutional investors.
In other news, COO Edward P. Decker sold 25,595 shares of the stock in a transaction that occurred on Thursday, November 19th. The stock was sold at an average price of $269.40, for a total value of $6,895,293.00. Following the completion of the transaction, the chief operating officer now directly owns 97,352 shares of the company’s stock, valued at approximately $26,226,628.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 120 shares of the stock in a transaction that occurred on Friday, November 20th. The stock was sold at an average price of $269.03, for a total value of $32,283.60. Following the completion of the transaction, the executive vice president now directly owns 46,611 shares of the company’s stock, valued at $12,539,757.33. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.
Shares of NYSE:HD opened at $268.34 on Friday. The business has a 50 day moving average price of $268.91 and a 200 day moving average price of $272.03. The company has a quick ratio of 0.72, a current ratio of 1.36 and a debt-to-equity ratio of 21.39. The Home Depot, Inc. has a twelve month low of $140.63 and a twelve month high of $292.95. The company has a market cap of $288.90 billion, a price-to-earnings ratio of 23.21, a PEG ratio of 2.09 and a beta of 1.03.
The Home Depot (NYSE:HD) last announced its quarterly earnings data on Monday, November 16th. The home improvement retailer reported $3.18 EPS for the quarter, topping the Zacks’ consensus estimate of $3.08 by $0.10. The Home Depot had a negative return on equity of 583.91% and a net margin of 9.94%. The company had revenue of $33.54 billion during the quarter, compared to the consensus estimate of $32.03 billion. During the same quarter last year, the company earned $2.53 EPS. Analysts anticipate that The Home Depot, Inc. will post 11.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd were given a $1.50 dividend. The ex-dividend date of this dividend was Wednesday, December 2nd. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.24%. The Home Depot’s dividend payout ratio is currently 58.54%.
Several research analysts recently weighed in on HD shares. Guggenheim raised The Home Depot from a “neutral” rating to a “buy” rating and set a $310.00 price target on the stock in a research report on Wednesday. Gordon Haskett raised The Home Depot from an “accumulate” rating to a “buy” rating and set a $315.00 target price on the stock in a research report on Thursday, November 12th. BNP Paribas initiated coverage on The Home Depot in a research report on Monday, October 5th. They issued an “outperform” rating and a $310.00 target price on the stock. Telsey Advisory Group raised The Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $300.00 to $315.00 in a research report on Monday, November 16th. Finally, Piper Sandler upped their target price on The Home Depot from $288.00 to $296.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 18th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. The Home Depot presently has a consensus rating of “Buy” and an average target price of $293.25.
About The Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and dÃ©cor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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