Maverick Capital Ltd. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Maverick Capital Ltd. decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 88.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,567 shares of the home improvement retailer’s stock after selling 11,631 shares during the quarter. Maverick Capital Ltd.’s holdings in Home Depot were worth $635,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Abacus Wealth Partners LLC boosted its stake in shares of Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares in the last quarter. Capital City Trust Co. FL raised its holdings in Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after purchasing an additional 26 shares in the last quarter. Ruedi Wealth Management Inc. raised its holdings in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares in the last quarter. Finally, Acorn Creek Capital LLC raised its holdings in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Insider Transactions at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $429.13 on Monday. The Home Depot, Inc. has a 12-month low of $308.59 and a 12-month high of $439.37. The company has a market capitalization of $426.28 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s fifty day moving average price is $407.48 and its 200 day moving average price is $372.20.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.81 EPS. On average, research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Analysts Set New Price Targets

HD has been the subject of several analyst reports. UBS Group increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial increased their target price 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. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. Wells Fargo & Company increased their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One equities research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.