The Home Depot, Inc. (NYSE:HD) Shares Sold by Patten Group Inc.

Patten Group Inc. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 2.4% during the third quarter, Holdings Channel reports. The institutional investor owned 2,629 shares of the home improvement retailer’s stock after selling 66 shares during the period. Patten Group Inc.’s holdings in Home Depot were worth $1,065,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Wulff Hansen & CO. boosted its stake in Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in Home Depot in the 1st quarter worth about $513,016,000. Price T Rowe Associates Inc. MD boosted its stake in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Swedbank AB acquired a new stake in Home Depot in the 1st quarter worth about $301,364,000. Finally, Jennison Associates LLC boosted its stake in Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after buying an additional 569,690 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Up 0.5 %

NYSE:HD opened at $416.07 on Thursday. The business’s fifty day moving average price is $375.22 and its 200 day moving average price is $356.30. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $420.03. The firm has a market capitalization of $412.58 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.16%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HD. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. Oppenheimer lifted their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Piper Sandler lifted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Stifel Nicolaus dropped their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, Truist Financial dropped their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $402.38.

Home Depot Company 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.