Phillips Financial Management LLC Grows Position in The Home Depot, Inc. (NYSE:HD)

Phillips Financial Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,169 shares of the home improvement retailer’s stock after purchasing an additional 43 shares during the quarter. Phillips Financial Management LLC’s holdings in Home Depot were worth $474,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the second quarter worth about $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter valued at approximately $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter worth $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $408.18 on Monday. The Home Depot, Inc. has a fifty-two week low of $302.34 and a fifty-two week high of $421.56. The company has a market capitalization of $405.44 billion, a P/E ratio of 27.73, a PEG ratio of 2.84 and a beta of 1.01. The company has a 50-day simple moving average of $399.51 and a 200 day simple moving average of $366.81. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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, beating 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 net margin of 9.45% and a return on equity of 452.60%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $3.81 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HD shares. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. TD Cowen lifted their price target on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, UBS Group increased their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.10% of the company’s stock.

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.