The Home Depot, Inc. (NYSE:HD) Shares Sold by Patten Group Inc.

Patten Group Inc. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 2.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,629 shares of the home improvement retailer’s stock after selling 66 shares during the quarter. Patten Group Inc.’s holdings in Home Depot were worth $1,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Wulff Hansen & CO. boosted its holdings in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Home Depot in the first quarter valued at approximately $513,016,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares during the period. Swedbank AB acquired a new stake in shares of Home Depot in the first quarter valued at approximately $301,364,000. Finally, Jennison Associates LLC boosted its holdings in shares of Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 0.5 %

Shares of HD stock opened at $416.07 on Thursday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock has a market cap of $412.58 billion, a P/E ratio of 27.91, a P/E/G ratio of 2.71 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $420.03. The business has a fifty day simple moving average of $375.22 and a 200-day simple moving average of $356.30.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 earnings per share. On average, analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HD. Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. increased their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $402.38.

Home Depot Company Profile

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.