Palisade Asset Management LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

23 Nov 2024, 11:06 by Doug Wharley · The Cerbat Gem

Palisade Asset Management LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 5.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,302 shares of the home improvement retailer’s stock after selling 3,667 shares during the period. Home Depot accounts for 2.8% of Palisade Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Palisade Asset Management LLC’s holdings in Home Depot were worth $28,486,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after purchasing an additional 100,139 shares during the period. Ameriprise Financial Inc. lifted its holdings in Home Depot by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Home Depot by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after purchasing an additional 333,312 shares during the period. Finally, Raymond James & Associates grew its holdings in Home Depot by 0.5% during the 2nd quarter. Raymond James & Associates now owns 3,556,074 shares of the home improvement retailer’s stock valued at $1,224,143,000 after buying an additional 19,282 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 2.3 %

Shares of Home Depot stock opened at $420.01 on Friday. The company’s 50 day moving average price is $403.23 and its 200-day moving average price is $368.84. The Home Depot, Inc. has a 52-week low of $308.31 and a 52-week high of $421.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $417.22 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.85 and a beta of 1.01.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates 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 last year, the firm earned $3.81 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on HD shares. 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 report on Wednesday, November 13th. TD Cowen increased their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Oppenheimer upped their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Bank of America increased their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Morgan Stanley boosted their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Get Our Latest Report on HD

Insider Transactions at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value 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 represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is currently owned by insiders.

Home Depot Company Profile

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