SPC Financial Inc. Sells 62 Shares of The Home Depot, Inc. (NYSE:HD)

SPC Financial Inc. lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,419 shares of the home improvement retailer’s stock after selling 62 shares during the period. SPC Financial Inc.’s holdings in Home Depot were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in Home Depot during the second quarter worth $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at about $33,000. Denver PWM LLC acquired a new stake in Home Depot in the 2nd quarter valued at about $40,000. Abich Financial Wealth Management LLC grew its holdings in Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 51 shares during the period. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in Home Depot during the first quarter worth approximately $49,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HD. Truist Financial boosted their target price on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday. Melius Research assumed coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus lowered their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Trading Up 0.7 %

Shares of Home Depot stock opened at $418.61 on Thursday. The firm’s 50 day moving average is $382.42 and its 200 day moving average is $357.80. The firm has a market capitalization of $415.10 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.15%. Home Depot’s payout ratio is presently 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.