Arthur M. Cohen & Associates LLC Sells 2,286 Shares of The Home Depot, Inc. (NYSE:HD)

Arthur M. Cohen & Associates LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 11.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,115 shares of the home improvement retailer’s stock after selling 2,286 shares during the period. Home Depot makes up approximately 1.3% of Arthur M. Cohen & Associates LLC’s portfolio, making the stock its 16th biggest position. Arthur M. Cohen & Associates LLC’s holdings in Home Depot were worth $6,999,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Hanlon Investment Management Inc. grew its stake in shares of Home Depot by 24.8% in the 3rd quarter. Hanlon Investment Management Inc. now owns 1,006 shares of the home improvement retailer’s stock valued at $408,000 after buying an additional 200 shares during the period. Clarity Financial LLC grew its stake in shares of Home Depot by 33.7% in the 3rd quarter. Clarity Financial LLC now owns 2,057 shares of the home improvement retailer’s stock valued at $833,000 after buying an additional 518 shares during the period. Amalgamated Bank grew its stake in shares of Home Depot by 2.4% in the 3rd quarter. Amalgamated Bank now owns 215,374 shares of the home improvement retailer’s stock valued at $87,270,000 after buying an additional 5,043 shares during the period. United Advisor Group LLC grew its stake in shares of Home Depot by 13.0% in the 3rd quarter. United Advisor Group LLC now owns 2,933 shares of the home improvement retailer’s stock valued at $1,188,000 after buying an additional 337 shares during the period. Finally, Central Bank & Trust Co. grew its stake in shares of Home Depot by 3.1% in the 3rd quarter. Central Bank & Trust Co. now owns 6,867 shares of the home improvement retailer’s stock valued at $2,783,000 after buying an additional 208 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 1.2 %

NYSE:HD opened at $400.21 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a market capitalization of $397.53 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The firm’s 50 day moving average is $393.49 and its 200 day moving average is $362.92. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. Home Depot’s payout ratio is 60.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HD. Barclays raised their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. raised 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. Evercore ISI cut their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $415.26.

Home Depot Company 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.