Stevens Capital Management LP Boosts Position in The Home Depot, Inc. (NYSE:HD)

Stevens Capital Management LP raised its position in The Home Depot, Inc. (NYSE:HD) by 139.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 6,475 shares of the home improvement retailer’s stock after purchasing an additional 3,766 shares during the period. Stevens Capital Management LP’s holdings in Home Depot were worth $2,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC purchased a new stake in Home Depot in the third quarter valued at approximately $138,000. Quantinno Capital Management LP lifted its stake in Home Depot by 22.2% in the third quarter. Quantinno Capital Management LP now owns 88,940 shares of the home improvement retailer’s stock valued at $36,039,000 after buying an additional 16,146 shares during the last quarter. RBF Capital LLC purchased a new stake in shares of Home Depot during the third quarter worth approximately $1,216,000. Royal London Asset Management Ltd. raised its stake in shares of Home Depot by 1.7% during the third quarter. Royal London Asset Management Ltd. now owns 622,189 shares of the home improvement retailer’s stock worth $252,111,000 after purchasing an additional 10,564 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC raised its stake in shares of Home Depot by 1.0% during the third quarter. Reynders McVeigh Capital Management LLC now owns 55,705 shares of the home improvement retailer’s stock worth $22,572,000 after purchasing an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. TD Cowen upped their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Morgan Stanley upped their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Evercore ISI upped their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by company insiders.

Home Depot Trading Down 0.3 %

Shares of NYSE HD opened at $427.86 on Thursday. The company has a market cap of $425.01 billion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03. The Home Depot, Inc. has a 12-month low of $320.01 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock’s 50 day simple moving average is $409.37 and its 200 day simple moving average is $373.77.

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

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 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.