Portfolio Design Labs LLC Takes $2.23 Million Position in The Home Depot, Inc. (NYSE:HD)

Portfolio Design Labs LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,512 shares of the home improvement retailer’s stock, valued at approximately $2,233,000.

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on HD. Truist Financial raised their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Finally, Stifel Nicolaus boosted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Down 0.9 %

Shares of NYSE HD opened at $406.88 on Wednesday. The Home Depot, Inc. has a 52-week low of $302.34 and a 52-week high of $421.56. 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 stock has a market cap of $404.15 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.84 and a beta of 1.01. The firm has a 50 day moving average price of $401.13 and a 200 day moving average price of $367.78.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the business earned $3.81 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

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.