Cannon Financial Strategists Inc. Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cannon Financial Strategists Inc. decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,535 shares of the home improvement retailer’s stock after selling 419 shares during the quarter. Home Depot makes up about 0.3% of Cannon Financial Strategists Inc.’s investment portfolio, making the stock its 27th largest position. Cannon Financial Strategists Inc.’s holdings in Home Depot were worth $1,432,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Legal & General Group Plc raised its stake in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares during the period. Ameriprise Financial Inc. raised its position in shares of Home Depot by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after buying an additional 138,396 shares during the period. Jennison Associates LLC lifted its holdings in Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Home Depot by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after acquiring an additional 333,312 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on HD shares. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Oppenheimer upped their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, DA Davidson boosted their price target on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Stock Down 0.1 %

Home Depot stock opened at $415.00 on Monday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock’s fifty day moving average is $385.10 and its two-hundred day moving average is $358.49. The firm has a market capitalization of $411.52 billion, a price-to-earnings ratio of 27.83, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

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

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 dividend yield of 2.17%. Home Depot’s payout ratio is currently 60.36%.

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.