Ipswich Investment Management Co. Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Ipswich Investment Management Co. Inc. lowered its position in The Home Depot, Inc. (NYSE:HD) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,143 shares of the home improvement retailer’s stock after selling 50 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Home Depot were worth $1,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. WFA Asset Management Corp lifted its holdings in shares of Home Depot by 10.7% during the first 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. boosted its stake in shares of Home Depot by 5.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after purchasing an additional 623 shares during the last quarter. Acadian Asset Management LLC grew its holdings in shares of Home Depot by 92.7% during the first quarter. Acadian Asset Management LLC now owns 66,257 shares of the home improvement retailer’s stock worth $25,407,000 after buying an additional 31,877 shares in the last quarter. Blue Barn Wealth LLC purchased a new position in shares of Home Depot during the first quarter valued at approximately $223,000. Finally, Ontario Teachers Pension Plan Board boosted its position in Home Depot by 42.3% during the first quarter. Ontario Teachers Pension Plan Board now owns 6,816 shares of the home improvement retailer’s stock worth $2,615,000 after acquiring an additional 2,025 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 0.6 %

Home Depot stock opened at $408.25 on Friday. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. The firm has a market capitalization of $405.51 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a 50 day moving average price of $399.51 and a 200 day moving average price of $366.34.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the business posted $3.81 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Research analysts forecast that The Home Depot, Inc. will post 15.06 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. DA Davidson boosted their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Mizuho increased their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $426.00.

Insider Activity

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by 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.