Comerica Bank Sells 2,193 Shares of The Home Depot, Inc. (NYSE:HD)

Comerica Bank trimmed its position in The Home Depot, Inc. (NYSE:HD) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 617,842 shares of the home improvement retailer’s stock after selling 2,193 shares during the quarter. Home Depot comprises about 0.9% of Comerica Bank’s investment portfolio, making the stock its 13th biggest position. Comerica Bank owned about 0.06% of Home Depot worth $212,686,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in Home Depot during the second quarter worth approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $27,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter valued at approximately $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the first quarter valued at approximately $38,000. Finally, Burkett Financial Services LLC bought a new position in shares of Home Depot during the fourth quarter valued at approximately $38,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $399.44 on Friday. The firm has a market capitalization of $396.09 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. 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 business has a fifty day moving average of $368.10 and a 200 day moving average of $355.21. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $403.54.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.25%. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of analyst reports. Truist Financial cut their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Loop Capital raised their price objective on Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Telsey Advisory Group restated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a report on Thursday, September 12th. Finally, Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $391.88.

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.