Klingenstein Fields & Co. LP Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Klingenstein Fields & Co. LP lowered its stake in The Home Depot, Inc. (NYSE:HD) by 0.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,742 shares of the home improvement retailer’s stock after selling 362 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Home Depot were worth $27,129,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. POM Investment Strategies LLC boosted its stake in Home Depot by 1.1% during the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares during the last quarter. Insight Inv LLC boosted its stake in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after purchasing an additional 25 shares during the last quarter. Marino Stram & Associates LLC boosted its stake in Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after purchasing an additional 25 shares during the last quarter. Live Oak Private Wealth LLC boosted its stake in Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares during the last quarter. Finally, Mezzasalma Advisors LLC boosted its stake in Home Depot by 4.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock valued at $255,000 after purchasing an additional 25 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $409.47 on Friday. The stock’s 50-day simple moving average is $404.93 and its 200-day simple moving average is $395.58. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $406.76 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 4.22 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on HD shares. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday. Sanford C. Bernstein initiated coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target on the stock. DA Davidson increased their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Bank of America increased their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Truist Financial increased their price target on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $433.44.

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.