Pinnacle Financial Partners Inc Has $43.17 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Pinnacle Financial Partners Inc lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 106,541 shares of the home improvement retailer’s stock after selling 1,708 shares during the period. Home Depot comprises 0.9% of Pinnacle Financial Partners Inc’s holdings, making the stock its 21st largest holding. Pinnacle Financial Partners Inc’s holdings in Home Depot were worth $43,170,000 as of its most recent SEC filing.

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

Home Depot Trading Down 1.3 %

Shares of HD stock opened at $403.17 on Wednesday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company has a market capitalization of $400.47 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 52-week low of $287.24 and a 52-week high of $421.56. The company has a 50-day simple moving average of $396.76 and a two-hundred day simple moving average of $365.25.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 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 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.81 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 14.99 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on HD shares. Royal Bank of Canada boosted their price objective on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. 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 research note on Wednesday, November 6th. Finally, Stifel Nicolaus raised their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $424.67.

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.