MCF Advisors LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

MCF Advisors LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,506 shares of the home improvement retailer’s stock after selling 182 shares during the quarter. MCF Advisors LLC’s holdings in Home Depot were worth $2,636,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Fairway Wealth LLC purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the second quarter worth $33,000. Denver PWM LLC purchased a new position in Home Depot in the second quarter worth $40,000. Livelsberger Financial Advisory bought a new position in Home Depot in the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot in the 2nd quarter valued at $47,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HD shares. Truist Financial boosted their price target on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. Evercore ISI reduced their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. One 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $412.00.

Home Depot Stock Performance

NYSE:HD opened at $398.91 on Monday. The business’s 50-day moving average price is $389.81 and its two-hundred day moving average price is $360.04. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $421.56. The stock has a market cap of $396.23 billion, a P/E ratio of 26.84, a PEG ratio of 2.78 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.

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

Home Depot Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 2.26%. Home Depot’s payout ratio is currently 60.57%.

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.