Patten & Patten Inc. TN Trims Stake in The Home Depot, Inc. (NYSE:HD)

Patten & Patten Inc. TN decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 26,709 shares of the home improvement retailer’s stock after selling 1,442 shares during the quarter. Patten & Patten Inc. TN’s holdings in Home Depot were worth $10,823,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WFA Asset Management Corp boosted its stake in Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after purchasing an additional 135 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in shares of Home Depot by 5.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after buying an additional 623 shares during the last quarter. Empowered Funds LLC increased its position in Home Depot by 42.9% in the 1st quarter. Empowered Funds LLC now owns 40,777 shares of the home improvement retailer’s stock valued at $15,642,000 after acquiring an additional 12,239 shares during the period. Washington Trust Advisors Inc. raised its stake in Home Depot by 0.5% during the 1st quarter. Washington Trust Advisors Inc. now owns 7,183 shares of the home improvement retailer’s stock valued at $2,755,000 after acquiring an additional 34 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of Home Depot by 7.4% in the 1st quarter. Russell Investments Group Ltd. now owns 510,685 shares of the home improvement retailer’s stock valued at $196,118,000 after purchasing an additional 35,052 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

HD stock opened at $405.90 on Monday. The stock has a 50-day moving average price of $395.19 and a two-hundred day moving average price of $364.01. The company has a market cap of $403.18 billion, a PE ratio of 27.31, a price-to-earnings-growth 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 Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56.

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

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. DA Davidson upped their price objective on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI lowered their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Telsey Advisory Group raised 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 report on Friday. Finally, Wells Fargo & Company increased their target price 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 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $420.04.

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.