Freedom Investment Management Inc. Sells 99 Shares of The Home Depot, Inc. (NYSE:HD)

Freedom Investment Management Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,237 shares of the home improvement retailer’s stock after selling 99 shares during the period. Freedom Investment Management Inc.’s holdings in Home Depot were worth $2,122,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WFA Asset Management Corp increased its position in Home Depot by 10.7% in the first quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after buying an additional 135 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in Home Depot by 5.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after acquiring an additional 623 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Home Depot during the 1st quarter worth approximately $430,000. Montchanin Asset Management LLC purchased a new position in Home Depot during the first quarter valued at approximately $4,701,000. Finally, Kozak & Associates Inc. increased its stake in shares of Home Depot by 2.3% in the first quarter. Kozak & Associates Inc. now owns 3,023 shares of the home improvement retailer’s stock worth $1,160,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.2 %

Shares of Home Depot stock opened at $429.62 on Wednesday. The firm’s 50 day simple moving average is $405.09 and its two-hundred day simple moving average is $370.41. The firm has a market capitalization of $426.77 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.98 and a beta of 1.01. The Home Depot, Inc. has a 12-month low of $308.59 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the firm posted $3.81 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm 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. This represents a $9.00 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were 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 $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 is available through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction 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. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Guggenheim increased their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Oppenheimer lifted their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

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.