The Home Depot, Inc. (NYSE:HD) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 568,534 shares of the home improvement retailer’s stock after selling 5,455 shares during the period. Home Depot makes up about 0.7% of State of New Jersey Common Pension Fund D’s holdings, making the stock its 21st largest position. State of New Jersey Common Pension Fund D owned about 0.06% of Home Depot worth $197,025,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Naples Global Advisors LLC increased its position in Home Depot by 0.5% in the third quarter. Naples Global Advisors LLC now owns 33,690 shares of the home improvement retailer’s stock worth $10,180,000 after buying an additional 162 shares during the period. Clarus Group Inc. lifted its holdings in shares of Home Depot by 9.5% during the 3rd quarter. Clarus Group Inc. now owns 1,814 shares of the home improvement retailer’s stock valued at $548,000 after buying an additional 158 shares during the last quarter. McBroom & Associates LLC lifted its holdings in Home Depot by 4.2% in the 3rd quarter. McBroom & Associates LLC now owns 15,635 shares of the home improvement retailer’s stock worth $4,724,000 after purchasing an additional 636 shares during the last quarter. Legacy Trust lifted its holdings in shares of Home Depot by 0.8% during the third quarter. Legacy Trust now owns 8,483 shares of the home improvement retailer’s stock worth $2,563,000 after buying an additional 70 shares during the last quarter. Finally, Traynor Capital Management Inc. lifted its holdings in shares of Home Depot by 1.7% during the third quarter. Traynor Capital Management Inc. now owns 40,423 shares of the home improvement retailer’s stock worth $12,214,000 after buying an additional 682 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HD shares. DA Davidson restated a “neutral” rating and set a $370.00 target price on shares of Home Depot in a report on Monday, April 1st. Oppenheimer cut shares of Home Depot from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Truist Financial restated a “buy” rating and set a $417.00 target price on shares of Home Depot in a report on Wednesday, April 17th. Wells Fargo & Company upped their price target on shares of Home Depot from $385.00 to $400.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 13th. Finally, HSBC reissued a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Price Performance

Shares of HD traded down $1.11 during mid-day trading on Thursday, hitting $331.90. 3,786,779 shares of the company were exchanged, compared to its average volume of 3,364,632. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The company has a 50 day moving average of $365.90 and a 200-day moving average of $340.46. The stock has a market cap of $328.92 billion, a price-to-earnings ratio of 21.90, a price-to-earnings-growth ratio of 2.26 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion during the quarter, compared to analysts’ expectations of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.30 EPS. Analysts expect that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Home Depot 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.