Entropy Technologies LP Trims Position in The Home Depot, Inc. (NYSE:HD)

Entropy Technologies LP cut its holdings in The Home Depot, Inc. (NYSE:HD) by 71.7% during the third quarter, Holdings Channel reports. The firm owned 3,094 shares of the home improvement retailer’s stock after selling 7,836 shares during the quarter. Entropy Technologies LP’s holdings in Home Depot were worth $1,254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in Home Depot by 51,250.1% during 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 in the last quarter. Legal & General Group Plc raised its holdings in shares of Home Depot by 1.2% in the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after buying an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 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 worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Home Depot by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after buying an additional 333,312 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of several research reports. Piper Sandler raised their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Morgan Stanley increased their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Finally, Guggenheim increased their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

HD opened at $410.39 on Thursday. The firm has a fifty day moving average price of $396.76 and a 200 day moving average price of $365.25. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The Home Depot, Inc. has a 1 year low of $300.14 and a 1 year high of $421.56. The stock has a market cap of $407.64 billion, a P/E ratio of 27.83, a P/E/G ratio of 2.79 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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 analysts’ expectations of $39.31 billion. During the same period in the previous year, the business earned $3.81 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 14.99 earnings per share for the current year.

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.