Farmers & Merchants Investments Inc. Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

Farmers & Merchants Investments Inc. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,377 shares of the home improvement retailer’s stock after selling 1,617 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Home Depot were worth $14,740,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Home Depot by 27.6% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares during the last quarter. Empirical Finance LLC lifted its holdings in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after purchasing an additional 1,195 shares in the last quarter. Pegasus Asset Management Inc. boosted its stake in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the last quarter. Commonwealth Retirement Investments LLC grew its holdings in shares of Home Depot by 5.5% during the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares in the last quarter. Finally, Swedbank AB raised its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

HD opened at $395.10 on Wednesday. The Home Depot, Inc. has a twelve month low of $276.96 and a twelve month high of $421.56. The firm has a market cap of $391.79 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.78 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company has a fifty day simple moving average of $391.17 and a 200 day simple moving average of $360.80.

Home Depot (NYSE:HD) last posted 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. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company 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 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HD. Stifel Nicolaus lowered their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday. Truist Financial upped their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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 note on Monday, August 5th. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $413.48.

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.