Novare Capital Management LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Novare Capital Management LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 34,729 shares of the home improvement retailer’s stock after selling 213 shares during the quarter. Home Depot accounts for approximately 1.1% of Novare Capital Management LLC’s holdings, making the stock its 23rd largest holding. Novare Capital Management LLC’s holdings in Home Depot were worth $13,509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its stake in shares of Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Fisher Asset Management LLC grew its stake in Home Depot by 2.2% during the 3rd quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock valued at $3,819,679,000 after purchasing an additional 205,954 shares in the last quarter. International Assets Investment Management LLC raised its position 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 purchasing an additional 8,762,735 shares in the last quarter. FMR LLC raised its position in shares of Home Depot by 10.1% in the 3rd 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Home Depot by 5.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock worth $3,253,952,000 after buying an additional 409,890 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. DA Davidson lifted their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Barclays upped their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were 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 of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $418.83 on Wednesday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a fifty day moving average price of $407.42 and a two-hundred day moving average price of $391.36. The firm has a market cap of $416.04 billion, a P/E ratio of 28.45, a PEG ratio of 4.32 and a beta of 1.05.

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 the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.81 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.15%. Home Depot’s dividend payout ratio (DPR) is 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.