Beech Hill Advisors Inc. Trims Stake in The Home Depot, Inc. (NYSE:HD)

Beech Hill Advisors Inc. lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,733 shares of the home improvement retailer’s stock after selling 193 shares during the period. Home Depot accounts for 1.4% of Beech Hill Advisors Inc.’s holdings, making the stock its 27th biggest position. Beech Hill Advisors Inc.’s holdings in Home Depot were worth $3,786,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Home Depot by 27.6% during the 2nd 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 buying an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. raised its holdings in Home Depot by 1.8% during the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Pensionfund Sabic lifted its position in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Swedbank AB boosted its stake 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 worth $368,542,000 after acquiring an additional 132,967 shares during the period. Finally, Wedmont Private Capital boosted its stake in shares of Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $409.42 on Friday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market cap of $406.70 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 4.11 and a beta of 1.05. The business’s fifty day simple moving average is $406.44 and its two-hundred day simple moving average is $386.94. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.81 EPS. 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 was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Melius Research assumed coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Finally, Bank of America increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last ninety days. 0.10% of the stock is owned by company 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.