The Home Depot, Inc. (NYSE:HD) Shares Sold by Cypress Capital Management LLC

Cypress Capital Management LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,155 shares of the home improvement retailer’s stock after selling 5,245 shares during the quarter. Home Depot makes up approximately 2.0% of Cypress Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Cypress Capital Management LLC’s holdings in Home Depot were worth $10,528,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Renaissance Technologies LLC acquired a new stake in Home Depot in the first quarter valued at about $563,524,000. Public Investment Fund acquired a new stake in Home Depot in the second quarter valued at about $450,346,000. Charles Schwab Investment Management Inc. increased its holdings in Home Depot by 14.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after buying an additional 1,361,660 shares in the last quarter. Barclays PLC increased its holdings in Home Depot by 86.8% in the third quarter. Barclays PLC now owns 1,602,423 shares of the home improvement retailer’s stock valued at $442,171,000 after buying an additional 744,712 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Home Depot by 334.3% in the first quarter. Arrowstreet Capital Limited Partnership now owns 553,390 shares of the home improvement retailer’s stock valued at $165,646,000 after buying an additional 425,968 shares in the last quarter. Institutional investors and hedge funds own 68.31% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $315.48 on Tuesday. The company’s fifty day moving average price is $320.75 and its two-hundred day moving average price is $302.70. The firm has a market capitalization of $322.97 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.68 and a beta of 0.95. The Home Depot, Inc. has a 12 month low of $264.51 and a 12 month high of $374.67. The company has a debt-to-equity ratio of 32.16, a current ratio of 1.39 and a quick ratio of 0.33.

Home Depot (NYSE:HD – Get Rating) last released its earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share for the quarter, topping the consensus estimate of $4.11 by $0.13. The company had revenue of $38.87 billion during the quarter, compared to the consensus estimate of $37.96 billion. Home Depot had a net margin of 10.87% and a negative return on equity of 3,656.69%. The company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.92 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 16.64 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 2.41%. The ex-dividend date was Wednesday, November 30th. Home Depot’s payout ratio is currently 45.81%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Cowen increased their target price on shares of Home Depot from $350.00 to $379.00 and gave the company an “outperform” rating in a report on Tuesday, December 13th. Truist Financial dropped their target price on shares of Home Depot from $400.00 to $382.00 and set a “buy” rating for the company in a report on Wednesday, November 16th. Piper Sandler dropped their target price on shares of Home Depot from $327.00 to $323.00 and set a “neutral” rating for the company in a report on Wednesday, November 16th. JPMorgan Chase & Co. dropped their target price on shares of Home Depot from $347.00 to $300.00 in a report on Friday, November 11th. Finally, Cowen increased their target price on shares of Home Depot from $350.00 to $379.00 and gave the company an “outperform” rating in a report on Tuesday, December 13th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $341.24.

Insider Transactions at Home Depot

In related news, Director Paula Santilli bought 1,583 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was bought at an average price of $315.80 per share, with a total value of $499,911.40. Following the transaction, the director now owns 1,583 shares of the company’s stock, valued at $499,911.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Paula Santilli bought 1,583 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was bought at an average price of $315.80 per share, with a total value of $499,911.40. Following the transaction, the director now owns 1,583 shares of the company’s stock, valued at $499,911.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Fahim Siddiqui sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $311.29, for a total transaction of $622,580.00. Following the completion of the sale, the executive vice president now directly owns 3,928 shares of the company’s stock, valued at approximately $1,222,747.12. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.