Retirement Systems of Alabama Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Retirement Systems of Alabama grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 475,434 shares of the home improvement retailer’s stock after purchasing an additional 47,914 shares during the quarter. Home Depot accounts for 0.7% of Retirement Systems of Alabama’s investment portfolio, making the stock its 18th biggest position. Retirement Systems of Alabama’s holdings in Home Depot were worth $192,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Lantz Financial LLC boosted its holdings in Home Depot by 1.5% in the second quarter. Lantz Financial LLC now owns 6,010 shares of the home improvement retailer’s stock valued at $2,069,000 after purchasing an additional 89 shares during the last quarter. ERn Financial LLC raised its holdings in Home Depot by 2.4% in the second quarter. ERn Financial LLC now owns 2,975 shares of the home improvement retailer’s stock valued at $1,024,000 after acquiring an additional 69 shares in the last quarter. Rappaport Reiches Capital Management LLC boosted its stake in Home Depot by 37.9% during the 2nd quarter. Rappaport Reiches Capital Management LLC now owns 1,169 shares of the home improvement retailer’s stock valued at $403,000 after acquiring an additional 321 shares during the last quarter. Blue Trust Inc. grew its holdings in Home Depot by 10.2% during the 2nd quarter. Blue Trust Inc. now owns 32,529 shares of the home improvement retailer’s stock worth $11,198,000 after acquiring an additional 3,022 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of Home Depot by 15.3% in the 2nd quarter. Brookstone Capital Management now owns 34,460 shares of the home improvement retailer’s stock worth $12,815,000 after purchasing an additional 4,564 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.4 %

HD stock opened at $416.26 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $413.50 billion, a PE ratio of 28.16, a PEG ratio of 2.93 and a beta of 1.03. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a fifty day simple moving average of $411.62 and a 200 day simple moving average of $377.35.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Truist Financial raised their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Royal Bank of Canada boosted their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Finally, Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. 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 company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Transactions at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by insiders.

About Home Depot

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.