Investment Management Corp of Ontario Boosts Position in The Home Depot, Inc. (NYSE:HD)

Investment Management Corp of Ontario raised its stake in The Home Depot, Inc. (NYSE:HD) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 33,003 shares of the home improvement retailer’s stock after acquiring an additional 976 shares during the period. Investment Management Corp of Ontario’s holdings in Home Depot were worth $13,373,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC purchased a new stake in Home Depot in the 2nd quarter valued at $40,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot in the second quarter valued at $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.0 %

Shares of HD opened at $426.75 on Tuesday. 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 firm has a 50 day simple moving average of $407.48 and a 200-day simple moving average of $372.20. The Home Depot, Inc. has a 1-year low of $318.96 and a 1-year high of $439.37. The stock has a market cap of $423.92 billion, a price-to-earnings ratio of 29.01, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03.

Home Depot (NYSE:HD) last released its 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 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%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.81 EPS. Equities 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. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.11%. Home Depot’s payout ratio is currently 61.14%.

Analysts Set New Price Targets

HD has been the topic of a number of research reports. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Royal Bank of Canada raised their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target on the stock. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $360.00 to $455.00 in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction 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 directly owns 12,465 shares of the company’s stock, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,188 shares of company stock valued at $15,624,585. Company insiders own 0.10% of the company’s stock.

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.