Cornerstone Advisors LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Cornerstone Advisors LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 37.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 58,800 shares of the home improvement retailer’s stock after acquiring an additional 16,000 shares during the quarter. Home Depot comprises 0.9% of Cornerstone Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Cornerstone Advisors LLC’s holdings in Home Depot were worth $23,826,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abacus Wealth Partners LLC increased its stake in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its holdings 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 in the last quarter. Capital City Trust Co. FL increased its position in shares of Home Depot by 1.1% in the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after purchasing an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. raised its stake in shares of 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 valued at $817,000 after purchasing an additional 27 shares in the last quarter. Finally, Acorn Creek Capital LLC lifted its position in shares of Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on HD shares. Wells Fargo & Company boosted their price objective on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target on the stock. Bank of America lifted their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. Finally, Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. One investment 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Trading Down 1.7 %

Home Depot stock opened at $399.98 on Thursday. The Home Depot, Inc. has a 12-month low of $302.34 and a 12-month high of $421.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market capitalization of $397.30 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm has a 50 day simple moving average of $401.72 and a 200-day simple moving average of $368.01.

Home Depot (NYSE:HD) last released its 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 firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the firm posted $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.25%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’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 transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate 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.