DekaBank Deutsche Girozentrale Sells 86,435 Shares of The Home Depot, Inc. (NYSE:HD)

DekaBank Deutsche Girozentrale cut its position in The Home Depot, Inc. (NYSE:HD) by 9.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 840,158 shares of the home improvement retailer’s stock after selling 86,435 shares during the quarter. Home Depot makes up approximately 0.6% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 28th largest holding. DekaBank Deutsche Girozentrale owned about 0.08% of Home Depot worth $333,840,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Fairway Wealth LLC acquired a new position in Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter worth about $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter valued at about $40,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the 2nd quarter worth approximately $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $398.91 on Monday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market capitalization of $396.23 billion, a PE ratio of 26.84, a P/E/G ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The company has a fifty day moving average of $389.81 and a two-hundred day moving average of $360.04.

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

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HD shares. Evercore ISI cut their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Truist Financial upped their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $412.00.

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.