The Home Depot, Inc. (NYSE:HD) Stock Position Trimmed by Xcel Wealth Management LLC

Xcel Wealth Management LLC lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 0.1% during the 3rd quarter, Holdings Channel reports. The firm owned 26,674 shares of the home improvement retailer’s stock after selling 35 shares during the period. Home Depot makes up about 3.2% of Xcel Wealth Management LLC’s investment portfolio, making the stock its 9th largest holding. Xcel Wealth Management LLC’s holdings in Home Depot were worth $10,808,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc boosted its position in Home Depot by 1.2% in the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after buying an additional 138,396 shares during the period. Jennison Associates LLC raised its stake in shares of Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after buying an additional 569,690 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Home Depot by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after buying an additional 333,312 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HD. Sanford C. Bernstein began coverage on Home Depot in a research note on Tuesday. They issued a “market perform” rating and a $451.00 target price on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Stifel Nicolaus lowered their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Price Performance

HD opened at $401.85 on Wednesday. The stock has a 50-day moving average price of $387.35 and a 200-day moving average price of $359.15. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $421.56. 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 stock has a market capitalization of $398.48 billion, a P/E ratio of 26.95, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the business earned $4.65 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 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.