Cardano Risk Management B.V. Purchases Shares of 306,766 The Home Depot, Inc. (NYSE:HD)

Cardano Risk Management B.V. acquired a new position in The Home Depot, Inc. (NYSE:HD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 306,766 shares of the home improvement retailer’s stock, valued at approximately $124,302,000. Home Depot accounts for 2.2% of Cardano Risk Management B.V.’s investment portfolio, making the stock its 16th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $33,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the 3rd quarter worth $46,000. Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter worth $40,000. Finally, Abich Financial Wealth Management LLC lifted its stake in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler raised their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Bank of America raised their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, Evercore ISI raised their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday. 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 stock. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on 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 sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

NYSE HD opened at $408.18 on Friday. The Home Depot, Inc. has a 1-year low of $302.34 and a 1-year high of $421.56. The business’s 50-day simple moving average is $399.51 and its 200-day simple moving average is $366.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The firm has a market capitalization of $405.44 billion, a P/E ratio of 27.73, a P/E/G ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during 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%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.81 EPS. Equities analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company 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 yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

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.