Cullinan Associates Inc. Trims Holdings in The Home Depot, Inc. (NYSE:HD)

Cullinan Associates Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% during the third quarter, HoldingsChannel.com reports. The firm owned 28,960 shares of the home improvement retailer’s stock after selling 616 shares during the quarter. Cullinan Associates Inc.’s holdings in Home Depot were worth $11,720,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in HD. Abacus Wealth Partners LLC grew its stake in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. increased its stake in Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC lifted its position in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the last quarter. Finally, Talisman Wealth Advisors LLC boosted its stake in shares of Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.9 %

NYSE HD opened at $398.91 on Friday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. 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 stock’s fifty day moving average price is $389.81 and its 200-day moving average price is $359.98. The stock has a market cap of $396.23 billion, a P/E ratio of 26.84, a P/E/G ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 EPS. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.26%. Home Depot’s payout ratio is currently 60.57%.

Wall Street Analyst Weigh In

Several research analysts recently commented on HD shares. Royal Bank of Canada decreased their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Truist Financial raised their target price on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued 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 a consensus price target of $412.00.

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.