The Home Depot, Inc. (NYSE:HD) Position Cut by Financial Advisory Partners LLC

Financial Advisory Partners LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,768 shares of the home improvement retailer’s stock after selling 130 shares during the quarter. Home Depot comprises about 1.4% of Financial Advisory Partners LLC’s portfolio, making the stock its 21st biggest holding. Financial Advisory Partners LLC’s holdings in Home Depot were worth $4,363,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Abacus Wealth Partners LLC boosted its holdings in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. boosted its position in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC raised its holdings in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares during the period. Talisman Wealth Advisors LLC lifted its stake in Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after buying an additional 29 shares in the last quarter. Finally, LMG Wealth Partners LLC boosted its holdings in shares of Home Depot by 1.7% in the second quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock worth $588,000 after buying an additional 29 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HD. Stifel Nicolaus reduced their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Royal Bank of Canada lowered their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Finally, Piper Sandler increased their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $402.38.

Home Depot Stock Performance

HD traded down $3.86 during midday trading on Thursday, reaching $412.21. The company’s stock had a trading volume of 992,832 shares, compared to its average volume of 3,382,458. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $420.03. The stock has a market cap of $408.75 billion, a P/E ratio of 27.59, a PEG ratio of 2.71 and a beta of 1.00. The company has a fifty day simple moving average of $376.18 and a 200 day simple moving average of $356.72. 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 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during 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 business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. Research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.18%. Home Depot’s dividend payout ratio is 60.36%.

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.