Hardy Reed LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Hardy Reed LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,026 shares of the home improvement retailer’s stock after buying an additional 148 shares during the quarter. Hardy Reed LLC’s holdings in Home Depot were worth $4,468,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC lifted its position in shares of Home Depot by 10.4% in the 3rd quarter. Townsquare Capital LLC now owns 76,356 shares of the home improvement retailer’s stock worth $30,939,000 after purchasing an additional 7,209 shares during the period. Cadence Bank lifted its holdings in Home Depot by 5.6% during the third quarter. Cadence Bank now owns 15,678 shares of the home improvement retailer’s stock worth $6,353,000 after buying an additional 836 shares during the period. All Terrain Financial Advisors LLC bought a new stake in Home Depot during the 3rd quarter valued at $205,000. Shum Financial Group Inc. purchased a new position in shares of Home Depot in the 3rd quarter valued at $2,322,000. Finally, Rock Point Advisors LLC bought a new position in shares of Home Depot in the 3rd quarter worth $227,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. DA Davidson raised their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. TD Cowen boosted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. upped their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One equities research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $429.62 on Wednesday. The company has a market capitalization of $426.77 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.98 and a beta of 1.01. The business’s 50-day moving average is $405.09 and its two-hundred day moving average is $370.41. 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 Home Depot, Inc. has a fifty-two week low of $308.59 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.81 EPS. Research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current 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 issued a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.09%. Home Depot’s payout ratio is 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.