Truist Financial Corp Sells 197,845 Shares of The Home Depot, Inc. (NYSE:HD)

Truist Financial Corp cut its holdings in The Home Depot, Inc. (NYSE:HD) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,587,491 shares of the home improvement retailer’s stock after selling 197,845 shares during the quarter. Home Depot comprises 0.8% of Truist Financial Corp’s portfolio, making the stock its 16th largest position. Truist Financial Corp owned approximately 0.16% of Home Depot worth $546,478,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HD. J. W. Coons Advisors LLC raised its holdings in Home Depot by 1.0% in the fourth quarter. J. W. Coons Advisors LLC now owns 7,345 shares of the home improvement retailer’s stock worth $2,546,000 after purchasing an additional 71 shares during the period. Carmignac Gestion raised its stake in Home Depot by 41.1% during the 4th quarter. Carmignac Gestion now owns 3,234 shares of the home improvement retailer’s stock worth $1,121,000 after buying an additional 942 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Home Depot by 2.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,957,351 shares of the home improvement retailer’s stock worth $678,320,000 after acquiring an additional 37,663 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in Home Depot by 2.0% during the fourth quarter. Royal London Asset Management Ltd. now owns 632,998 shares of the home improvement retailer’s stock worth $219,365,000 after acquiring an additional 12,701 shares in the last quarter. Finally, ROI Financial Advisors LLC acquired a new position in Home Depot in the fourth quarter valued at about $5,029,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Oppenheimer raised their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Stifel Nicolaus cut their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Evercore ISI lowered their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada dropped their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Finally, Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $394.08.

Home Depot Stock Performance

Shares of HD stock opened at $405.02 on Tuesday. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $405.31. The company has a market capitalization of $401.62 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.71 and a beta of 1.00. The company has a 50-day simple moving average of $368.93 and a 200 day simple moving average of $355.11. 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 announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

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.