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

Meeder Asset Management Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 93.8% in the third quarter, according to the company in its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at about $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the second quarter worth about $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter valued at approximately $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were 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 directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Home Depot Trading Down 0.9 %

Shares of HD stock opened at $406.88 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $302.34 and a twelve month high of $421.56. The company’s 50-day moving average price is $401.13 and its 200-day moving average price is $367.78. The stock has a market cap of $404.15 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last posted 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. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.81 EPS. As a group, equities analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm 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 $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 2.21%. Home Depot’s dividend payout ratio is currently 61.14%.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. UBS Group increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada raised their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday, November 11th. One 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 stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot 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.