Kentucky Retirement Systems Insurance Trust Fund Sells 2,606 Shares of The Home Depot, Inc. (NYSE:HD)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 8.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 29,359 shares of the home improvement retailer’s stock after selling 2,606 shares during the quarter. Home Depot accounts for about 0.8% of Kentucky Retirement Systems Insurance Trust Fund’s holdings, making the stock its 18th biggest position. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Home Depot were worth $11,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new position in Home Depot in the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter worth $33,000. Denver PWM LLC acquired a new stake in Home Depot in the second quarter valued at $40,000. Livelsberger Financial Advisory bought a new position in Home Depot during the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 0.6 %

Shares of HD opened at $408.25 on Friday. The Home Depot, Inc. has a 1-year low of $302.34 and a 1-year high of $421.56. The firm’s 50 day simple moving average is $399.51 and its 200 day simple moving average is $366.34. The company has a market capitalization of $405.51 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the business posted $3.81 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.06 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

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

Insiders Place Their Bets

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were 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 $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial increased their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday. DA Davidson increased their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and upped their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

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.