Canopy Partners LLC Acquires 33 Shares of The Home Depot, Inc. (NYSE:HD)

Canopy Partners LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,307 shares of the home improvement retailer’s stock after buying an additional 33 shares during the period. Canopy Partners LLC’s holdings in Home Depot were worth $935,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new position in Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the 2nd quarter worth $40,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Home Depot during the second quarter valued at $47,000. Institutional investors own 70.86% of the company’s stock.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % 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 worth $15,624,585. Company insiders own 0.10% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $420.01 on Friday. The firm has a market capitalization of $417.22 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.85 and a beta of 1.01. 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 business has a 50 day simple moving average of $403.23 and a 200-day simple moving average of $368.84. The Home Depot, Inc. has a 1 year low of $308.31 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 company had revenue of $40.22 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.81 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HD shares. Morgan Stanley boosted their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.