Massachusetts Financial Services Co. MA Reduces Position in The Home Depot, Inc. (NYSE:HD)

Massachusetts Financial Services Co. MA reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,356,011 shares of the home improvement retailer’s stock after selling 36,571 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.14% of Home Depot worth $549,456,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot during the 2nd quarter worth $33,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 3rd quarter worth $46,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the second quarter worth $40,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HD shares. Guggenheim raised their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Truist Financial increased their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

Home Depot stock opened at $410.18 on Friday. The company has a market cap of $407.43 billion, a PE ratio of 27.87, a P/E/G ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $306.48 and a 12 month high of $421.56. The company has a fifty day moving average price of $402.43 and a two-hundred day moving average price of $368.30. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. Home Depot’s dividend payout ratio is currently 61.14%.

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.