Navellier & Associates Inc. Has $1.72 Million Stake in The Home Depot, Inc. (NYSE:HD)

Navellier & Associates Inc. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 12.1% in the third quarter, HoldingsChannel.com reports. The fund owned 4,246 shares of the home improvement retailer’s stock after selling 585 shares during the quarter. Navellier & Associates Inc.’s holdings in Home Depot were worth $1,720,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in HD. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the second quarter valued at $33,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the third quarter valued at about $46,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC boosted its position in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Insider Activity

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 stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on HD. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Morgan Stanley raised their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Royal Bank of Canada upped their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, TD Cowen raised their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

Shares of HD stock opened at $401.46 on Thursday. The firm’s 50 day moving average is $401.72 and its 200 day moving average is $368.01. The stock has a market capitalization of $398.77 billion, a P/E ratio of 27.17, a PEG ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $306.48 and a 12 month high of $421.56. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results 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. The firm 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 business’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.81 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.24%. Home Depot’s dividend payout ratio is currently 61.14%.

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.