Louisiana State Employees Retirement System Sells 2,400 Shares of The Home Depot, Inc. (NYSE:HD)

Louisiana State Employees Retirement System reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,400 shares of the home improvement retailer’s stock after selling 2,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Home Depot were worth $20,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HD. International Assets Investment Management LLC grew its holdings in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot during the third quarter valued at approximately $336,231,000. FMR LLC grew its stake in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of Home Depot by 295.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after purchasing an additional 518,054 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its stake in shares of Home Depot by 37,025.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock worth $187,019,000 after purchasing an additional 479,485 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $407.20 on Thursday. The firm has a market cap of $404.50 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock’s fifty day moving average price is $405.62 and its two-hundred day moving average price is $395.38. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the business earned $3.81 earnings per share. As a group, research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Ratings Changes

HD has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial lifted their price objective on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday. Evercore ISI upped their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Finally, TD Cowen upped their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $428.85.

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.