Logan Capital Management Inc. Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Logan Capital Management Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 3.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,211 shares of the home improvement retailer's stock after selling 1,761 shares during the period. Home Depot makes up approximately 0.9% of Logan Capital Management Inc.'s portfolio, making the stock its 25th largest position. Logan Capital Management Inc.'s holdings in Home Depot were worth $21,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter valued at $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the 2nd quarter valued at $40,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the 3rd quarter worth about $41,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Buying and Selling at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 100 shares of the business's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company's stock, 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. Over the last quarter, insiders sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HD shares. Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the company a "sector perform" rating in a research note on Monday, November 11th. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. DA Davidson increased their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an "overweight" rating in a report on Monday, September 30th. Finally, Guggenheim increased their target price on Home Depot from $390.00 to $450.00 and gave the company a "buy" rating in a report on Friday, October 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and a consensus price target of $426.00.

Home Depot Stock Performance

Home Depot stock traded up $2.55 during trading hours on Friday, reaching $416.97. 2,649,716 shares of the stock were exchanged, compared to its average volume of 3,372,001. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market cap of $414.20 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.93 and a beta of 1.03. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm's 50 day moving average is $411.62 and its 200 day moving average is $377.35.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the firm earned $3.81 earnings per share. The firm's revenue was up 6.6% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.16%. The ex-dividend date was Wednesday, November 27th. Home Depot's payout ratio is 61.14%.

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.