Ridgewood Investments LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Ridgewood Investments LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 6.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,730 shares of the home improvement retailer’s stock after selling 178 shares during the quarter. Ridgewood Investments LLC’s holdings in Home Depot were worth $1,062,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abacus Wealth Partners LLC grew its holdings in shares of Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. lifted its position in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares in the last quarter. Insight Inv LLC lifted its position in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares in the last quarter. Capital City Trust Co. FL raised its position in shares of Home Depot by 1.1% in the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares in the last quarter. Finally, Wealth Group Ltd raised its position in shares of Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HD. Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price on the stock. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Guggenheim upped their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. Finally, Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. 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 company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Trading Up 0.9 %

Shares of NYSE HD traded up $3.48 during mid-day trading on Friday, hitting $390.68. 2,568,763 shares of the company traded hands, compared to its average volume of 2,580,494. The business has a 50 day moving average of $406.19 and a two-hundred day moving average of $385.06. The stock has a market capitalization of $388.09 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 2.90 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.81 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.30%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the 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 transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann Marie Campbell sold 100 shares of the 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 transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last three months. Insiders own 0.10% of the company’s stock.

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.