Parsec Financial Management Inc. reduced its position in The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,645 shares of the home improvement retailer’s stock after selling 1,624 shares during the quarter. Parsec Financial Management Inc.’s holdings in Home Depot were worth $15,906,000 at the end of the most recent reporting period.

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A number of other hedge funds have also modified their holdings of HD. First Personal Financial Services lifted its holdings in shares of Home Depot by 81.1% during the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 43 shares during the period. Fairfield Bush & CO. purchased a new stake in shares of Home Depot in the first quarter valued at about $27,000. Grayhawk Investment Strategies Inc. acquired a new position in shares of Home Depot during the second quarter worth about $28,000. Mizuho Securities Co. Ltd. boosted its holdings in Home Depot by 119.5% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 90 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 49 shares in the last quarter. Finally, Klaas Financial Asset Advisors LLC acquired a new position in Home Depot during the 3rd quarter worth approximately $41,000. 68.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HD. JPMorgan Chase & Co. reduced their price target on Home Depot from $347.00 to $300.00 in a report on Friday, November 11th. TheStreet upgraded shares of Home Depot from a “c+” rating to a “b” rating in a report on Tuesday, November 15th. The Goldman Sachs Group lowered their target price on shares of Home Depot from $366.00 to $329.00 and set a “buy” rating on the stock in a research report on Tuesday, November 8th. Piper Sandler reduced their price target on shares of Home Depot from $327.00 to $323.00 and set a “neutral” rating for the company in a research report on Wednesday, November 16th. Finally, MKM Partners decreased their target price on Home Depot from $330.00 to $312.00 in a research report on Wednesday, November 9th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $341.24.

Home Depot Trading Up 0.4 %

Shares of NYSE:HD traded up $1.19 during trading on Friday, reaching $315.00. 854,229 shares of the stock were exchanged, compared to its average volume of 3,051,324. The firm’s 50-day moving average price is $320.96 and its 200 day moving average price is $303.34. The firm has a market cap of $322.47 billion, a price-to-earnings ratio of 18.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.95. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $374.67. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.33 and a current ratio of 1.39.

Home Depot (NYSE:HD – Get Rating) last released its quarterly earnings data on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.11 by $0.13. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The company had revenue of $38.87 billion during the quarter, compared to the consensus estimate of $37.96 billion. During the same period in the previous year, the firm earned $3.92 earnings per share. Home Depot’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 16.64 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a $1.90 dividend. This represents a $7.60 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Wednesday, November 30th. Home Depot’s dividend payout ratio (DPR) is presently 45.81%.

Insiders Place Their Bets

In related news, Director Paula Santilli purchased 1,583 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was purchased at an average price of $315.80 per share, for a total transaction of $499,911.40. Following the acquisition, the director now directly owns 1,583 shares in the company, valued at $499,911.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Home Depot news, Director Paula Santilli bought 1,583 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average cost of $315.80 per share, with a total value of $499,911.40. Following the completion of the transaction, the director now owns 1,583 shares in the company, valued at $499,911.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Fahim Siddiqui sold 2,000 shares of the stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $311.29, for a total value of $622,580.00. Following the completion of the transaction, the executive vice president now directly owns 3,928 shares of the company’s stock, valued at approximately $1,222,747.12. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Home Depot Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

See Also

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Get Rating).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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