Pointe Capital Management LLC Trims Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Pointe Capital Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 921 shares of the home improvement retailer’s stock after selling 52 shares during the period. Pointe Capital Management LLC’s holdings in Home Depot were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC grew its holdings in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Wulff Hansen & CO. boosted its stake in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in Home Depot during the 1st quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD grew its position in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Home Depot in the 1st quarter valued at $301,364,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HD. Royal Bank of Canada cut their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. UBS Group lifted their price objective 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. Evercore ISI cut their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus dropped their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, Truist Financial raised their target price on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $413.48.

Home Depot Stock Up 1.0 %

Shares of Home Depot stock opened at $402.99 on Tuesday. The Home Depot, Inc. has a 1-year low of $276.96 and a 1-year high of $421.56. The company has a market capitalization of $399.61 billion, a PE ratio of 27.03, a P/E/G ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The business has a 50-day moving average of $390.61 and a 200-day moving average of $360.44.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the firm earned $4.65 EPS. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.23%. Home Depot’s dividend payout ratio is presently 60.36%.

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.