Meeder Asset Management Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Meeder Asset Management Inc. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 93.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 552 shares of the home improvement retailer’s stock after selling 8,355 shares during the quarter. Meeder Asset Management Inc.’s holdings in Home Depot were worth $224,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter valued at $33,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the third quarter valued at $46,000. Denver PWM LLC acquired a new position in Home Depot during the 2nd quarter worth $40,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 0.9 %

NYSE HD opened at $406.88 on Wednesday. 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 stock has a market capitalization of $404.15 billion, a P/E ratio of 27.64, a P/E/G ratio of 2.84 and a beta of 1.01. The Home Depot, Inc. has a 52-week low of $302.34 and a 52-week high of $421.56. The firm has a 50-day moving average price of $401.13 and a 200 day moving average price of $367.78.

Home Depot (NYSE:HD) last issued its earnings results 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the business posted $3.81 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s payout ratio is currently 61.14%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HD shares. Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus upped their price objective on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Bank of America upped their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company raised their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

About Home Depot

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.