The Home Depot, Inc. (NYSE:HD) Shares Sold by REDW Wealth LLC

REDW Wealth LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 9.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 833 shares of the home improvement retailer’s stock after selling 84 shares during the period. REDW Wealth LLC’s holdings in Home Depot were worth $338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc boosted its position 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 worth $9,348,000 after buying an additional 5,879 shares during the period. Empirical Finance LLC raised its holdings in Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares in the last quarter. Pegasus Asset Management Inc. raised its holdings in Home Depot by 1.8% during the third 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 in the last quarter. Commonwealth Retirement Investments LLC raised its holdings in 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 purchasing an additional 965 shares in the last quarter. Finally, Swedbank AB raised its holdings in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Morgan Stanley boosted their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Piper Sandler boosted 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. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. TD Cowen upped their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Evercore ISI dropped their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $413.48.

Home Depot Trading Down 0.3 %

Shares of NYSE:HD opened at $392.59 on Monday. The stock has a market capitalization of $389.96 billion, a PE ratio of 26.42, a P/E/G ratio of 2.73 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The firm has a fifty day moving average price of $392.51 and a 200 day moving average price of $362.03. 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 released 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 during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.65 EPS. Analysts expect that The Home Depot, Inc. will post 15.01 EPS 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 given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.57%.

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.