The Home Depot, Inc. (NYSE:HD) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC decreased its stake in The Home Depot, Inc. (NYSE:HD) by 19.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 382,652 shares of the home improvement retailer’s stock after selling 92,683 shares during the period. Home Depot makes up 2.4% of Penserra Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Penserra Capital Management LLC’s holdings in Home Depot were worth $118,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HD. Carnegie Capital Asset Management LLC raised its position in Home Depot by 7.2% during the second quarter. Carnegie Capital Asset Management LLC now owns 47,911 shares of the home improvement retailer’s stock worth $14,883,000 after acquiring an additional 3,211 shares during the last quarter. Outlook Wealth Advisors LLC raised its position in Home Depot by 3.6% during the second quarter. Outlook Wealth Advisors LLC now owns 4,960 shares of the home improvement retailer’s stock worth $1,541,000 after acquiring an additional 171 shares during the last quarter. Impax Asset Management Group plc raised its position in Home Depot by 3.6% during the second quarter. Impax Asset Management Group plc now owns 5,391 shares of the home improvement retailer’s stock worth $1,675,000 after acquiring an additional 186 shares during the last quarter. Richard W. Paul & Associates LLC raised its position in Home Depot by 5.2% during the second quarter. Richard W. Paul & Associates LLC now owns 3,064 shares of the home improvement retailer’s stock worth $952,000 after acquiring an additional 152 shares during the last quarter. Finally, Fortis Group Advisors LLC acquired a new position in Home Depot during the first quarter worth about $2,567,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock traded down $4.19 during trading on Tuesday, hitting $304.00. 744,874 shares of the stock were exchanged, compared to its average volume of 3,614,420. The stock’s fifty day moving average is $298.22 and its 200 day moving average is $306.89. The stock has a market cap of $304.02 billion, a PE ratio of 19.78, a P/E/G ratio of 2.30 and a beta of 0.93. The company has a debt-to-equity ratio of 28.37, a quick ratio of 0.35 and a current ratio of 1.30. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $347.25.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.06. The firm had revenue of $37.71 billion during the quarter, compared to analyst estimates of $37.59 billion. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. Home Depot’s revenue was down 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.24 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.05 EPS for the current year.

Home Depot announced that its board has approved a share repurchase plan on Tuesday, August 15th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the home improvement retailer to purchase up to 4.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $8.36 dividend on an annualized basis and a yield of 2.75%. Home Depot’s dividend payout ratio is presently 53.66%.

Insider Activity at Home Depot

In related news, CAO Kimberly R. Scardino sold 1,375 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the transaction, the chief accounting officer now owns 6,744 shares in the company, valued at approximately $2,067,103.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Home Depot news, CAO Kimberly R. Scardino sold 1,375 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total value of $421,451.25. Following the completion of the sale, the chief accounting officer now directly owns 6,744 shares of the company’s stock, valued at approximately $2,067,103.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Timothy A. Hourigan sold 12,120 shares of the company’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $325.40, for a total transaction of $3,943,848.00. Following the completion of the sale, the executive vice president now directly owns 73,049 shares of the company’s stock, valued at $23,770,144.60. The disclosure for this sale can be found here. Insiders sold 15,095 shares of company stock worth $4,888,003 in the last 90 days. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HD. Jefferies Financial Group lifted their price target on shares of Home Depot from $370.00 to $384.00 and gave the company a “buy” rating in a research report on Wednesday, August 16th. Royal Bank of Canada reduced their target price on shares of Home Depot from $303.00 to $299.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 15th. Citigroup boosted their target price on shares of Home Depot from $327.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Morgan Stanley reduced their target price on shares of Home Depot from $350.00 to $335.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 15th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 price target on shares of Home Depot in a report on Wednesday, November 15th. Twelve investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $339.57.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. 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.