Legacy Financial Advisors Inc. Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Legacy Financial Advisors Inc. lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,509 shares of the home improvement retailer’s stock after selling 281 shares during the period. Legacy Financial Advisors Inc.’s holdings in Home Depot were worth $2,585,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Transatlantique Private Wealth LLC raised its holdings in shares of Home Depot by 4.3% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 8,382 shares of the home improvement retailer’s stock worth $2,840,000 after acquiring an additional 346 shares during the period. TPG Advisors LLC purchased a new position in Home Depot during the second quarter worth about $462,000. Summit Trail Advisors LLC boosted its holdings in Home Depot by 35.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 17,438 shares of the home improvement retailer’s stock valued at $6,003,000 after purchasing an additional 4,607 shares during the last quarter. Kiely Wealth Advisory Group Inc. grew its stake in shares of Home Depot by 6.0% in the 2nd quarter. Kiely Wealth Advisory Group Inc. now owns 742 shares of the home improvement retailer’s stock valued at $258,000 after buying an additional 42 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Home Depot by 4.0% during the 2nd quarter. Sei Investments Co. now owns 239,055 shares of the home improvement retailer’s stock worth $82,293,000 after buying an additional 9,131 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HD shares. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Royal Bank of Canada dropped their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Thursday, September 12th. Truist Financial dropped their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $389.04.

Home Depot Price Performance

Home Depot stock opened at $389.97 on Friday. The business has a 50 day simple moving average of $364.95 and a 200-day simple moving average of $354.45. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market capitalization of $386.70 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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 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. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors 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 2.31%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Home Depot Company 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.