The Home Depot, Inc. (NYSE:HD) Shares Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 150,079 shares of the home improvement retailer’s stock after purchasing an additional 4,743 shares during the quarter. Home Depot accounts for 0.9% of Pinnacle Associates Ltd.’s portfolio, making the stock its 21st largest position. Pinnacle Associates Ltd.’s holdings in Home Depot were worth $60,812,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of HD. International Assets Investment Management LLC lifted its holdings in Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after buying an additional 8,762,735 shares during the last quarter. Legal & General Group Plc lifted its holdings in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after buying an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in 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 worth $1,980,883,000 after buying an additional 138,396 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Home Depot by 13.1% during 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. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.3 %

Shares of HD stock opened at $393.80 on Friday. The Home Depot, Inc. has a 1 year low of $281.61 and a 1 year high of $421.56. The stock has a market cap of $390.50 billion, a PE ratio of 26.41, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The business’s fifty day moving average is $392.17 and its 200-day moving average is $361.25. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last issued 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 business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.65 EPS. Equities analysts expect 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 announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Stifel Nicolaus reduced 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. Piper Sandler raised their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Oppenheimer raised their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Finally, Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $413.48.

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.