The Manufacturers Life Insurance Company Sells 20,610 Shares of The Home Depot, Inc. (NYSE:HD)

The Manufacturers Life Insurance Company cut its holdings in The Home Depot, Inc. (NYSE:HD) by 2.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 815,247 shares of the home improvement retailer’s stock after selling 20,610 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Home Depot worth $330,338,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several research firms have recently commented on HD. Bank of America boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. TD Cowen raised their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, Melius Research began coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. 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. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Up 2.1 %

Home Depot stock opened at $428.67 on Tuesday. The firm has a 50 day simple moving average of $404.17 and a 200 day simple moving average of $369.82. 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 Home Depot, Inc. has a 1-year low of $308.59 and a 1-year high of $430.25. The firm has a market capitalization of $425.82 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 2.92 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating 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 company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the business earned $3.81 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

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 $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.10%. Home Depot’s dividend payout ratio (DPR) is currently 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.