The Home Depot, Inc. (NYSE:HD) Position Cut by Wealth Effects LLC

Wealth Effects LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,453 shares of the home improvement retailer’s stock after selling 42 shares during the period. Wealth Effects LLC’s holdings in Home Depot were worth $994,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of HD. Texas Capital Bank Wealth Management Services Inc boosted its position in Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares during the period. Empirical Finance LLC increased its stake in Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after buying an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC raised its position in shares of Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares in the last quarter. Swedbank AB lifted its stake in shares of Home Depot by 17.1% in the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the period. Finally, Leeward Financial Partners LLC boosted its holdings in shares of Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock valued at $4,001,000 after acquiring an additional 711 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Guggenheim upped their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Jefferies Financial Group assumed coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Piper Sandler lifted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $409.12.

Home Depot Stock Performance

HD stock opened at $406.52 on Tuesday. The firm has a 50 day moving average of $386.31 and a two-hundred day moving average of $358.83. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The company has a market capitalization of $403.11 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 2.88 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the company posted $4.65 earnings per share. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS 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 given a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.21%. Home Depot’s payout ratio is currently 60.36%.

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.