The Home Depot, Inc. (NYSE:HD) Stock Position Lowered by American Trust

American Trust lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,063 shares of the home improvement retailer’s stock after selling 367 shares during the quarter. American Trust’s holdings in Home Depot were worth $4,841,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of HD. Ruedi Wealth Management Inc. grew its position in Home Depot by 1.2% in the second 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 last quarter. Acorn Creek Capital LLC grew its holdings in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the last quarter. Talisman Wealth Advisors LLC increased its position in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after purchasing an additional 29 shares in the last quarter. LMG Wealth Partners LLC lifted its stake in Home Depot by 1.7% in the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after purchasing an additional 29 shares during the last quarter. Finally, Opes Wealth Management LLC boosted its position in Home Depot by 5.2% in the second quarter. Opes Wealth Management LLC now owns 591 shares of the home improvement retailer’s stock valued at $203,000 after buying an additional 29 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. DA Davidson upped their price target on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Piper Sandler increased 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. Loop Capital lifted their price target on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Jefferies Financial Group started coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Finally, Melius Research assumed coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $396.23.

Home Depot Stock Performance

Shares of HD opened at $409.21 on Wednesday. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $410.56. The company has a market cap of $405.78 billion, a PE ratio of 27.45, a P/E/G ratio of 2.71 and a beta of 1.00. The stock has a 50-day moving average of $369.92 and a 200-day moving average of $355.36. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last issued its earnings results 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. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed 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. This represents a $9.00 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend 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.