September 29, 2022

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WestEnd Advisors LLC Sells 1,540 Shares of The Home Depot, Inc. (NYSE:HD)


WestEnd Advisors LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,817 shares of the home improvement retailer’s stock after selling 1,540 shares during the quarter. WestEnd Advisors LLC’s holdings in The Home Depot were worth $16,420,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Claudia M.P. Batlle CRP R LLC bought a new position in shares of The Home Depot in the 3rd quarter valued at about $34,000. Johnson Midwest Financial LLC acquired a new stake in The Home Depot in the 4th quarter valued at about $40,000. Arlington Partners LLC bought a new position in The Home Depot during the fourth quarter worth about $43,000. Planned Solutions Inc. acquired a new position in The Home Depot during the third quarter worth approximately $45,000. Finally, Catalyst Private Wealth LLC bought a new stake in The Home Depot in the third quarter valued at approximately $45,000. 68.71% of the stock is currently owned by hedge funds and other institutional investors.

In related news, COO Edward P. Decker sold 25,595 shares of the company’s stock in a transaction that occurred on Thursday, November 19th. The shares were sold at an average price of $269.40, for a total transaction of $6,895,293.00. Following the completion of the transaction, the chief operating officer now directly owns 97,352 shares in the company, valued at approximately $26,226,628.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 120 shares of the stock in a transaction that occurred on Friday, November 20th. The shares were sold at an average price of $269.03, for a total transaction of $32,283.60. Following the completion of the transaction, the executive vice president now directly owns 46,611 shares of the company’s stock, valued at approximately $12,539,757.33. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Several research analysts have recently commented on HD shares. DA Davidson reduced their target price on The Home Depot from $315.00 to $295.00 and set a “neutral” rating for the company in a research note on Wednesday, November 18th. Wedbush downgraded shares of The Home Depot from an “outperform” rating to a “neutral” rating in a report on Wednesday, November 11th. Bank of America raised their target price on shares of The Home Depot from $330.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Exane BNP Paribas initiated coverage on shares of The Home Depot in a report on Monday, October 5th. They set an “outperform” rating and a $310.00 target price for the company. Finally, BNP Paribas initiated coverage on shares of The Home Depot in a report on Monday, October 5th. They issued an “outperform” rating and a $310.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $293.25.

Shares of NYSE:HD opened at $270.82 on Monday. The company’s 50 day simple moving average is $271.46 and its 200 day simple moving average is $274.21. The company has a debt-to-equity ratio of 21.39, a current ratio of 1.36 and a quick ratio of 0.72. The Home Depot, Inc. has a 1 year low of $140.63 and a 1 year high of $292.95. The stock has a market capitalization of $291.57 billion, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.03.

The Home Depot (NYSE:HD) last issued its earnings results on Monday, November 16th. The home improvement retailer reported $3.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.08 by $0.10. The Home Depot had a negative return on equity of 910.85% and a net margin of 9.94%. The firm had revenue of $33.54 billion for the quarter, compared to the consensus estimate of $32.03 billion. During the same quarter last year, the business posted $2.53 EPS. As a group, analysts anticipate that The Home Depot, Inc. will post 11.76 EPS for the current fiscal year.

The Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for The Home Depot (NYSE:HD)



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