SouthState Corp Sells 4,064 Shares of The Home Depot, Inc. (NYSE:HD)

SouthState Corp reduced its position in The Home Depot, Inc. (NYSE:HD) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,958 shares of the home improvement retailer’s stock after selling 4,064 shares during the period. Home Depot makes up 1.6% of SouthState Corp’s investment portfolio, making the stock its 13th largest holding. SouthState Corp’s holdings in Home Depot were worth $23,079,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc lifted its holdings in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. lifted its holdings in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB lifted its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares in the last quarter. LGT Group Foundation lifted its stake in Home Depot by 121.0% during the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after acquiring an additional 147,482 shares in the last quarter. Finally, CX Institutional lifted its stake in Home Depot by 225.6% during the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after acquiring an additional 22,668 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.6 %

Shares of NYSE HD opened at $410.44 on Tuesday. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The business has a 50-day simple moving average of $400.41 and a two-hundred day simple moving average of $367.33. 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 company has a market cap of $407.69 billion, a P/E ratio of 27.88, a P/E/G ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping 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 business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the company earned $3.81 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. Home Depot’s payout ratio is 61.14%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HD. Barclays raised their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein began coverage on Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Melius Research began coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Mizuho raised their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Evercore ISI raised their price objective on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot 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 transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate 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.