Profit Investment Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Profit Investment Management LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,884 shares of the home improvement retailer’s stock after selling 123 shares during the quarter. Profit Investment Management LLC’s holdings in Home Depot were worth $1,511,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HD. Texas Capital Bank Wealth Management Services Inc boosted its holdings in Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. boosted its stake in Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares in the last quarter. Pensionfund Sabic boosted its stake in Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB increased its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Finally, Wedmont Private Capital increased its stake in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after purchasing an additional 1,506 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated 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 owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. DA Davidson increased their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Morgan Stanley increased their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company upped their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. One investment 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.0 %

Shares of HD stock opened at $409.42 on Friday. The stock has a market capitalization of $406.70 billion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 4.11 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a 50 day moving average price of $406.44 and a 200 day moving average price of $386.94. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results 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 analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.81 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

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.