Pinnacle Financial Partners Inc Sells 1,708 Shares of The Home Depot, Inc. (NYSE:HD)

Pinnacle Financial Partners Inc trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,541 shares of the home improvement retailer’s stock after selling 1,708 shares during the period. Home Depot accounts for approximately 0.9% of Pinnacle Financial Partners Inc’s portfolio, making the stock its 21st largest holding. Pinnacle Financial Partners Inc’s holdings in Home Depot were worth $43,170,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the second quarter worth about $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the second quarter valued at approximately $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot in the 2nd quarter worth approximately $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the topic of a number of analyst reports. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $360.00 to $455.00 in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Morgan Stanley raised their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. TD Cowen lifted 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. Finally, DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $424.67.

Home Depot Stock Down 1.3 %

Shares of NYSE:HD opened at $403.17 on Wednesday. The firm has a market capitalization of $400.47 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a 50 day moving average price of $396.76 and a 200-day moving average price of $365.25. The Home Depot, Inc. has a 52-week low of $287.24 and a 52-week high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.81 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 14.99 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.57%.

Home Depot Profile

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.