Gemmer Asset Management LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Gemmer Asset Management LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 10.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,517 shares of the home improvement retailer’s stock after selling 392 shares during the quarter. Gemmer Asset Management LLC’s holdings in Home Depot were worth $1,368,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Home Depot during the third quarter valued at approximately $336,231,000. FMR LLC boosted its position in shares of Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in Home Depot by 295.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after purchasing an additional 518,054 shares during the period. Finally, Magnolia Capital Advisors LLC bought a new position in Home Depot in the second quarter worth $159,365,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD opened at $418.65 on Wednesday. The company’s 50 day moving average is $406.53 and its 200 day moving average is $388.73. 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 company has a market cap of $415.87 billion, a price-to-earnings ratio of 28.44, a PEG ratio of 4.31 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.81 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Transactions at Home Depot

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the 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 completion of the sale, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HD has been the topic of a number of recent research reports. Guggenheim upped their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $426.00.

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.