Simplicity Wealth LLC Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Simplicity Wealth LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 81.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,365 shares of the home improvement retailer’s stock after selling 40,926 shares during the period. Simplicity Wealth LLC’s holdings in Home Depot were worth $3,794,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Fisher Asset Management LLC increased its position in shares of Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Legal & General Group Plc grew its stake in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after buying an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after buying an additional 138,396 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $411.90 on Friday. The firm has a 50 day moving average of $378.34 and a two-hundred day moving average of $357.28. The stock has a market capitalization of $409.14 billion, a PE ratio of 27.72, 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. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $420.03.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $42.57 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research analyst reports. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Melius Research started coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, DA Davidson lifted their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $402.38.

Home Depot 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.