Joseph Group Capital Management Has $4.43 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Joseph Group Capital Management boosted its position in The Home Depot, Inc. (NYSE:HD) by 18.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,923 shares of the home improvement retailer’s stock after buying an additional 1,668 shares during the quarter. Home Depot makes up about 1.7% of Joseph Group Capital Management’s holdings, making the stock its 10th biggest position. Joseph Group Capital Management’s holdings in Home Depot were worth $4,426,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Texas Capital Bank Wealth Management Services Inc boosted its stake in Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. increased its holdings in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB raised its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the last quarter. LGT Group Foundation lifted its position in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares in the last quarter. Finally, CX Institutional boosted its position in Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after buying an additional 22,668 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on HD. Truist Financial lifted their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company upped their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.6 %

Home Depot stock opened at $410.44 on Tuesday. The Home Depot, Inc. has a one year low of $302.34 and a one year high of $421.56. The business’s fifty day moving average is $400.41 and its 200 day moving average is $367.33. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The stock has a market capitalization of $407.69 billion, a PE ratio of 27.88, 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the firm posted $3.81 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. Home Depot’s payout ratio is 61.14%.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction dated 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 sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

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.