Sumitomo Life Insurance Co. Has $5.33 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Sumitomo Life Insurance Co. lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,148 shares of the home improvement retailer’s stock after selling 324 shares during the period. Sumitomo Life Insurance Co.’s holdings in Home Depot were worth $5,328,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of 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 valued at $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Jennison Associates LLC grew its position in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after purchasing an additional 569,690 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Home Depot by 7.7% during 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 in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

Home Depot stock traded up $0.94 during trading hours on Wednesday, hitting $416.52. The company had a trading volume of 261,124 shares, compared to its average volume of 3,368,849. The firm has a 50-day moving average of $380.90 and a 200 day moving average of $357.37. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a market cap of $413.03 billion, a PE ratio of 27.89, a PEG ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Analysts Set New Price Targets

A number of research analysts have weighed in on HD shares. DA Davidson lifted their price target on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Truist Financial increased their target price on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Finally, Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $404.69.

About Home Depot

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.