Geode Capital Management LLC Increases Position in The Home Depot, Inc. (NYSE:HD)

Geode Capital Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,700,427 shares of the home improvement retailer’s stock after buying an additional 433,126 shares during the period. Home Depot comprises 0.7% of Geode Capital Management LLC’s portfolio, making the stock its 19th largest holding. Geode Capital Management LLC owned 2.18% of Home Depot worth $8,767,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new position in shares of Home Depot during the 2nd quarter worth approximately $40,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot during the 3rd quarter worth approximately $41,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot in the 3rd quarter valued at approximately $46,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Barclays raised their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Mizuho boosted their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Trading Down 0.5 %

Shares of HD opened at $429.37 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a market cap of $426.52 billion, a PE ratio of 29.17, a P/E/G ratio of 3.00 and a beta of 1.03. The stock’s 50-day moving average is $411.09 and its two-hundred day moving average is $376.09.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 the consensus estimate of $39.31 billion. During the same quarter last year, the company earned $3.81 earnings per share. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.10%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Insiders Place Their Bets

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were 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. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last quarter. Insiders own 0.10% of the company’s stock.

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.