Exchange Traded Concepts LLC Sells 30,201 Shares of The Home Depot, Inc. (NYSE:HD)

Exchange Traded Concepts LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 97.0% in the third quarter, HoldingsChannel reports. The firm owned 942 shares of the home improvement retailer’s stock after selling 30,201 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Home Depot were worth $382,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the 2nd quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the second quarter valued at approximately $47,000. Finally, Quarry LP grew its holdings in Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. 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 research report on Wednesday, August 14th. Royal Bank of Canada dropped their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, DA Davidson lifted their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Price Performance

Shares of Home Depot stock opened at $415.00 on Friday. The firm has a market capitalization of $411.52 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.88 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 Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The business’s 50-day moving average price is $385.10 and its 200-day moving average price is $358.50.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Sell-side analysts forecast 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 paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

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.