Harvest Fund Management Co. Ltd Raises Position in The Home Depot, Inc. (NYSE:HD)

Harvest Fund Management Co. Ltd boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 59.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,311 shares of the home improvement retailer’s stock after buying an additional 3,108 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Home Depot were worth $3,365,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc grew its stake in Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. grew its position in shares of Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after purchasing an additional 86 shares in the last quarter. Swedbank AB increased its holdings in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. LGT Group Foundation lifted its position in Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after buying an additional 147,482 shares in the last quarter. Finally, CX Institutional boosted its stake in Home Depot by 225.6% during the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after buying an additional 22,668 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. TD Cowen lifted their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler increased their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

Shares of NYSE HD opened at $420.00 on Monday. 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 company has a market cap of $417.21 billion, a price-to-earnings ratio of 28.53, a price-to-earnings-growth ratio of 2.92 and a beta of 1.01. The stock’s 50-day moving average is $403.23 and its two-hundred day moving average is $369.25. 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 released its 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the prior year, the firm earned $3.81 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by insiders.

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.