Charles Schwab Investment Management Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Charles Schwab Investment Management Inc. lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% in the third quarter, Holdings Channel.com reports. The fund owned 13,607,317 shares of the home improvement retailer’s stock after selling 27,491 shares during the quarter. Home Depot comprises 1.1% of Charles Schwab Investment Management Inc.’s portfolio, making the stock its 11th biggest holding. Charles Schwab Investment Management Inc.’s holdings in Home Depot were worth $5,513,336,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Fairway Wealth LLC purchased a new position in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter valued at about $33,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 3rd quarter valued at about $46,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth approximately $40,000. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $402.76 on Thursday. The company has a market capitalization of $400.06 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. 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 Home Depot, Inc. has a 52-week low of $306.48 and a 52-week high of $421.56. The stock has a 50 day moving average price of $401.72 and a 200 day moving average price of $368.01.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Bank of America increased 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, November 13th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Finally, Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.