The Home Depot, Inc. (NYSE:HD) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 12.4% during the third quarter, HoldingsChannel reports. The firm owned 1,916 shares of the home improvement retailer’s stock after selling 270 shares during the quarter. Krane Funds Advisors LLC’s holdings in Home Depot were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Abacus Wealth Partners LLC increased its position in Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its position in Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Ruedi Wealth Management Inc. increased its position in Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares during the period. Acorn Creek Capital LLC increased its position in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares during the period. Finally, Talisman Wealth Advisors LLC increased its position in Home Depot by 1.2% in the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $401.85 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The business has a fifty day simple moving average of $387.35 and a 200 day simple moving average of $359.15. The firm has a market cap of $398.48 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the company earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.24%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Truist Financial lifted their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Stifel Nicolaus lowered their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One equities 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $410.67.

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.