The Home Depot, Inc. (NYSE:HD) Stock Holdings Lessened by Penserra Capital Management LLC

Penserra Capital Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 98.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,199 shares of the home improvement retailer’s stock after selling 474,170 shares during the quarter. Penserra Capital Management LLC’s holdings in Home Depot were worth $2,510,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC purchased a new position in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the second quarter worth about $33,000. Denver PWM LLC purchased a new position in shares of Home Depot in the second quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the 2nd quarter valued at approximately $47,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $360.00 to $455.00 in a research note on Friday, November 8th. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Piper Sandler raised their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Truist Financial raised their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

Shares of HD opened at $428.67 on Tuesday. 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 Home Depot, Inc. has a one year low of $308.59 and a one year high of $430.25. The company’s fifty day moving average price is $404.17 and its 200 day moving average price is $369.82. The company has a market capitalization of $425.82 billion, a PE ratio of 29.12, a price-to-earnings-growth ratio of 2.92 and a beta of 1.01.

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

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by company 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.