Sawgrass Asset Management LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Sawgrass Asset Management LLC decreased its position in The Home Depot, Inc. (NYSE:HD) by 3.8% during the third quarter, Holdings Channel.com reports. The fund owned 39,196 shares of the home improvement retailer’s stock after selling 1,561 shares during the quarter. Home Depot accounts for approximately 1.7% of Sawgrass Asset Management LLC’s investment portfolio, making the stock its 15th largest position. Sawgrass Asset Management LLC’s holdings in Home Depot were worth $15,882,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc increased its position in Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after purchasing an additional 5,879 shares during the period. Pegasus Asset Management Inc. boosted its stake in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB increased its position in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the period. LGT Group Foundation raised its stake in Home Depot by 121.0% in the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after buying an additional 147,482 shares in the last quarter. Finally, CX Institutional lifted its holdings in Home Depot by 225.6% in the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after buying an additional 22,668 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

NYSE HD opened at $408.18 on Friday. The stock has a market capitalization of $405.44 billion, a price-to-earnings ratio of 27.73, a PEG ratio of 2.84 and a beta of 1.01. The Home Depot, Inc. has a 1-year low of $302.34 and a 1-year high of $421.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The business’s fifty day moving average price is $399.51 and its 200-day moving average price is $366.56.

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

Home Depot Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 transaction, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Finally, Truist Financial increased their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average 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.