The Home Depot, Inc. (NYSE:HD) Stake Cut by Harel Insurance Investments & Financial Services Ltd.

Harel Insurance Investments & Financial Services Ltd. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 34.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,389 shares of the home improvement retailer’s stock after selling 732 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Home Depot were worth $475,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in HD. Bey Douglas LLC bought a new position in Home Depot during the fourth quarter worth $913,000. Hartline Investment Corp increased its holdings in Home Depot by 3.0% during the 4th quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after purchasing an additional 460 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new position in Home Depot in the 4th quarter valued at $387,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Home Depot by 1.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 213,799 shares of the home improvement retailer’s stock worth $74,092,000 after purchasing an additional 2,209 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in shares of Home Depot by 3.3% in the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after buying an additional 1,195 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on HD shares. Evercore ISI reduced their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Tuesday, August 13th. Truist Financial dropped their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $386.33.

Home Depot Stock Performance

Shares of NYSE HD traded up $3.16 during midday trading on Tuesday, hitting $366.23. 1,170,056 shares of the stock traded hands, compared to its average volume of 3,421,233. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a market capitalization of $363.16 billion, a P/E ratio of 24.40, a PEG ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The firm has a 50-day moving average of $351.35 and a two-hundred day moving average of $353.25.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the firm posted $4.65 EPS. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

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.