TCW Group Inc. Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

TCW Group Inc. decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 15.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 267,708 shares of the home improvement retailer’s stock after selling 47,893 shares during the period. TCW Group Inc.’s holdings in Home Depot were worth $108,475,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. TD Cowen increased their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company boosted their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research note on Wednesday, November 6th. Loop Capital raised shares of 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 research note on Wednesday, October 9th. Finally, UBS Group boosted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

Home Depot stock opened at $422.57 on Wednesday. The firm has a fifty day moving average of $411.09 and a 200-day moving average of $376.09. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $419.76 billion, a P/E ratio of 28.71, a PEG ratio of 2.98 and a beta of 1.03.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.81 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.13%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The stock was 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 in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 38,188 shares of company stock valued at $15,624,585. Corporate 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.