Connor Clark & Lunn Investment Management Ltd. Sells 211,868 Shares of The Home Depot, Inc. (NYSE:HD)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 80.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,074 shares of the home improvement retailer’s stock after selling 211,868 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Home Depot were worth $21,506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter valued at $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot in the second quarter valued at about $33,000. Denver PWM LLC acquired a new position in Home Depot during the 2nd quarter worth about $40,000. Livelsberger Financial Advisory bought a new stake in Home Depot during the 3rd quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. Stifel Nicolaus boosted their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Barclays raised their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim upped their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Truist Financial raised their target price on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Buying and Selling at Home Depot

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

Home Depot Stock Down 1.7 %

HD opened at $399.98 on Thursday. 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 fifty day simple moving average is $401.72 and its 200 day simple moving average is $368.01. The Home Depot, Inc. has a 1-year low of $302.34 and a 1-year high of $421.56. The stock has a market cap of $397.30 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate 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 net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.81 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.25%. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Home Depot Company 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.