Wealth Dimensions Group Ltd. Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Wealth Dimensions Group Ltd. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% during the 3rd quarter, Holdings Channel reports. The fund owned 2,334 shares of the home improvement retailer’s stock after selling 31 shares during the period. Wealth Dimensions Group Ltd.’s holdings in Home Depot were worth $946,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Home Depot by 51,250.1% in the third 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 purchasing an additional 8,762,735 shares in the last quarter. Legal & General Group Plc raised its stake in shares of 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 acquiring an additional 100,139 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after acquiring an additional 138,396 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 valued at $1,598,316,000 after acquiring an additional 333,312 shares during the last quarter. Finally, Raymond James & Associates grew its holdings in Home Depot by 0.5% in the second quarter. Raymond James & Associates now owns 3,556,074 shares of the home improvement retailer’s stock worth $1,224,143,000 after purchasing an additional 19,282 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 analysts have recently commented on the company. Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Truist Financial lifted their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, TD Cowen upped their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insiders Place Their Bets

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value 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 approximately $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. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

Home Depot Price Performance

NYSE:HD opened at $420.00 on Friday. 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 company has a 50 day moving average price of $403.23 and a 200-day moving average price of $369.04. The Home Depot, Inc. has a 1-year low of $308.31 and a 1-year high of $421.56. The firm has a market cap of $417.21 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $3.81 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.14%. Home Depot’s dividend payout ratio is currently 61.14%.

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.