The Home Depot, Inc. (NYSE:HD) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in The Home Depot, Inc. (NYSE:HD) by 0.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,549,240 shares of the home improvement retailer’s stock after selling 1,004 shares during the quarter. Home Depot accounts for 0.7% of Sumitomo Mitsui Trust Group Inc.’s holdings, making the stock its 16th largest holding. Sumitomo Mitsui Trust Group Inc. owned approximately 0.26% of Home Depot worth $1,032,952,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in Home Depot during the 2nd quarter worth $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the second quarter worth about $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the 2nd quarter worth $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $360.00 to $455.00 in a research report on Friday. Jefferies Financial Group started coverage on shares of Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. One equities research 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $422.81.

Home Depot Price Performance

HD stock opened at $408.29 on Tuesday. The company has a market cap of $405.55 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 2.81 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm has a 50 day moving average of $395.99 and a 200-day moving average of $364.77. The Home Depot, Inc. has a 12-month low of $287.24 and a 12-month high of $421.56.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.65 earnings per share. As a group, equities analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is currently 60.57%.

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.