IFM Investors Pty Ltd Sells 652 Shares of The Home Depot, Inc. (NYSE:HD)

IFM Investors Pty Ltd lowered its position in The Home Depot, Inc. (NYSE:HD) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 202,431 shares of the home improvement retailer’s stock after selling 652 shares during the quarter. Home Depot accounts for about 0.8% of IFM Investors Pty Ltd’s holdings, making the stock its 18th largest position. IFM Investors Pty Ltd’s holdings in Home Depot were worth $82,025,000 at the end of the most recent reporting period.

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

Home Depot Trading Down 0.9 %

Shares of NYSE HD opened at $398.97 on Friday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The firm has a market capitalization of $396.29 billion, a P/E ratio of 26.85, a P/E/G ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The company’s 50 day simple moving average is $389.08 and its 200 day simple moving average is $359.73.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $4.65 EPS. On average, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.26%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday. They issued a “market perform” rating and a $451.00 price objective on the stock. DA Davidson upped their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler lifted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada lowered their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $412.00.

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.