The Home Depot, Inc. (NYSE:HD) Stake Cut by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 23.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 172,495 shares of the home improvement retailer’s stock after selling 53,268 shares during the period. Home Depot accounts for approximately 0.6% of Teachers Retirement System of The State of Kentucky’s portfolio, making the stock its 18th biggest holding. Teachers Retirement System of The State of Kentucky’s holdings in Home Depot were worth $69,894,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Fairway Wealth LLC acquired a new position in shares of Home Depot during the 2nd quarter worth $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the second quarter worth approximately $33,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter valued at approximately $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 3rd quarter worth $46,000. Finally, Denver PWM LLC bought a new position in Home Depot in the 2nd quarter worth $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company lifted their price objective on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, UBS Group lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One equities 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

Shares of NYSE:HD opened at $422.57 on Wednesday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company’s 50 day moving average price is $411.09 and its two-hundred day moving average price is $376.09. The firm has a market cap of $419.76 billion, a PE ratio of 28.71, a PEG ratio of 2.98 and a beta of 1.03. 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. 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 company posted $3.81 earnings per share. Equities research analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

Home Depot 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.