RNC Capital Management LLC Has $28.66 Million Position in The Home Depot, Inc. (NYSE:HD)


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RNC Capital Management LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 107,903 shares of the home improvement retailer’s stock after purchasing an additional 2,052 shares during the period. The Home Depot accounts for 1.8% of RNC Capital Management LLC’s portfolio, making the stock its 26th largest holding. RNC Capital Management LLC’s holdings in The Home Depot were worth $28,661,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HD. Claudia M.P. Batlle CRP R LLC acquired a new position in The Home Depot during the third quarter valued at approximately $34,000. Arlington Partners LLC bought a new position in The Home Depot during the fourth quarter worth $43,000. Planned Solutions Inc. bought a new position in The Home Depot during the third quarter worth $45,000. Catalyst Private Wealth LLC bought a new position in The Home Depot during the third quarter worth $45,000. Finally, JJJ Advisors Inc. increased its position in The Home Depot by 201.6% during the third quarter. JJJ Advisors Inc. now owns 184 shares of the home improvement retailer’s stock worth $51,000 after acquiring an additional 123 shares during the period. Institutional investors own 63.23% of the company’s stock.

HD opened at $274.05 on Thursday. The company has a debt-to-equity ratio of 21.39, a current ratio of 1.36 and a quick ratio of 0.72. The company has a market cap of $295.04 billion, a price-to-earnings ratio of 23.71, a price-to-earnings-growth ratio of 1.84 and a beta of 1.04. The firm has a 50 day simple moving average of $268.91 and a 200 day simple moving average of $271.86. The Home Depot, Inc. has a fifty-two week low of $140.63 and a fifty-two week high of $292.95.

The Home Depot (NYSE:HD) last posted its quarterly earnings results on Monday, November 16th. The home improvement retailer reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.08 by $0.10. The business had revenue of $33.54 billion during the quarter, compared to the consensus estimate of $32.03 billion. The Home Depot had a net margin of 9.94% and a negative return on equity of 910.85%. During the same period in the previous year, the firm posted $2.53 earnings per share. As a group, analysts expect that The Home Depot, Inc. will post 11.76 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, December 17th. Shareholders of record on Thursday, December 3rd were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, December 2nd. The Home Depot’s payout ratio is presently 58.54%.

In other news, EVP Ann Marie Campbell sold 120 shares of the stock in a transaction on Friday, November 20th. The shares were sold at an average price of $269.03, for a total transaction of $32,283.60. Following the completion of the sale, the executive vice president now owns 46,611 shares of the company’s stock, valued at $12,539,757.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Edward P. Decker sold 25,595 shares of the stock in a transaction on Thursday, November 19th. The stock was sold at an average price of $269.40, for a total transaction of $6,895,293.00. Following the sale, the chief operating officer now directly owns 97,352 shares of the company’s stock, valued at approximately $26,226,628.80. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Several equities research analysts have issued reports on HD shares. Bank of America boosted their price target on shares of The Home Depot from $330.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Piper Sandler upped their target price on shares of The Home Depot from $288.00 to $296.00 and gave the stock a “neutral” rating in a report on Wednesday, November 18th. They noted that the move was a valuation call. Wedbush lowered shares of The Home Depot from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 11th. Exane BNP Paribas assumed coverage on shares of The Home Depot in a report on Monday, October 5th. They issued an “outperform” rating and a $310.00 target price on the stock. Finally, Morgan Stanley upped their target price on shares of The Home Depot from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, December 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $293.25.

About The Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for The Home Depot (NYSE:HD)

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