Anchor Investment Management LLC Sells 417 Shares of The Home Depot, Inc. (NYSE:HD)

by · The Cerbat Gem

Anchor Investment Management LLC lowered its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 2.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,548 shares of the home improvement retailer’s stock after selling 417 shares during the period. Anchor Investment Management LLC’s holdings in Home Depot were worth $7,921,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC acquired a new stake in Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in Home Depot in the second quarter valued at about $33,000. Denver PWM LLC acquired a new stake in Home Depot in the second quarter valued at about $40,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the third quarter valued at about $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the third quarter valued at about $46,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on HD. Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Oppenheimer lifted their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Finally, Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Check Out Our Latest Stock Report on HD

Home Depot Price Performance

Shares of NYSE:HD opened at $421.38 on Thursday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock’s 50 day moving average is $411.56 and its 200-day moving average is $377.09. The firm has a market capitalization of $418.58 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.98 and a beta of 1.03.

Home Depot (NYSE:HD – Get Free Report) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the firm earned $3.81 earnings per share. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. Sell-side 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 declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction on 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 owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by insiders.

About Home Depot

(Free Report)

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.

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