Kentucky Retirement Systems Sells 5,599 Shares of The Home Depot, Inc. (NYSE:HD)

Kentucky Retirement Systems trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,081 shares of the home improvement retailer’s stock after selling 5,599 shares during the period. Home Depot makes up about 0.8% of Kentucky Retirement Systems’ investment portfolio, making the stock its 18th largest holding. Kentucky Retirement Systems’ holdings in Home Depot were worth $27,992,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HD. WFA Asset Management Corp lifted its holdings in shares of Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after buying an additional 135 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Home Depot by 5.8% in the first 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 stake in shares of Home Depot by 92.7% during the 1st quarter. Acadian Asset Management LLC now owns 66,257 shares of the home improvement retailer’s stock valued at $25,407,000 after purchasing an additional 31,877 shares during the period. Blue Barn Wealth LLC purchased a new stake in shares of Home Depot during the 1st quarter valued at about $223,000. Finally, Ontario Teachers Pension Plan Board increased its position in shares of Home Depot by 42.3% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 6,816 shares of the home improvement retailer’s stock valued at $2,615,000 after purchasing an additional 2,025 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. TD Cowen lifted their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Mizuho lifted their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The stock was 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 approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $408.25 on Friday. The firm has a market capitalization of $405.51 billion, a PE ratio of 27.73, a PEG ratio of 2.83 and a beta of 1.01. The stock’s fifty day moving average is $399.51 and its 200 day moving average is $366.34. The Home Depot, Inc. has a fifty-two week low of $302.34 and a fifty-two 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.

Home Depot (NYSE:HD) last announced 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 net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the firm posted $3.81 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.06 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.20%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is currently 61.14%.

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.