Teachers Retirement System of The State of Kentucky Reduces Stake in The Home Depot, Inc. (NYSE:HD)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 23.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,495 shares of the home improvement retailer's stock after selling 53,268 shares during the quarter. Home Depot comprises approximately 0.6% of Teachers Retirement System of The State of Kentucky's investment portfolio, making the stock its 18th biggest position. Teachers Retirement System of The State of Kentucky's holdings in Home Depot were worth $69,894,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new position in Home Depot in the second quarter valued at approximately $33,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter valued at approximately $41,000. Livelsberger Financial Advisory bought a new stake in Home Depot during the third quarter worth $46,000. Finally, Denver PWM LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at $40,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Gordon Haskett upgraded Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Guggenheim upped their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Finally, Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an "overweight" rating in a report on Monday, September 30th. One investment 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 data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $426.00.

Home Depot Trading Down 0.3 %

Shares of NYSE:HD traded down $1.21 during mid-day trading on Wednesday, hitting $421.38. The company had a trading volume of 4,050,387 shares, compared to its average volume of 3,365,219. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a fifty day moving average price of $411.36 and a 200 day moving average price of $376.78. The company has a market capitalization of $418.58 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 2.98 and a beta of 1.03.

Home Depot (NYSE:HD - Get Free Report) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period last year, the business posted $3.81 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, November 27th. Home Depot's payout ratio is currently 61.14%.

Insider Buying and Selling at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now 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 dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

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.