Golden State Equity Partners Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Golden State Equity Partners reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,656 shares of the home improvement retailer’s stock after selling 1,171 shares during the quarter. Home Depot makes up 0.7% of Golden State Equity Partners’ holdings, making the stock its 28th largest position. Golden State Equity Partners’ holdings in Home Depot were worth $3,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in HD. Woodmont Investment Counsel LLC raised its stake in Home Depot by 17.5% in the first quarter. Woodmont Investment Counsel LLC now owns 14,537 shares of the home improvement retailer’s stock valued at $5,576,000 after buying an additional 2,167 shares during the last quarter. Applied Capital LLC FL raised its stake in Home Depot by 2.6% in the first quarter. Applied Capital LLC FL now owns 6,611 shares of the home improvement retailer’s stock valued at $2,536,000 after buying an additional 170 shares during the last quarter. Capital Advisors Ltd. LLC raised its stake in Home Depot by 2.3% in the first quarter. Capital Advisors Ltd. LLC now owns 2,909 shares of the home improvement retailer’s stock valued at $1,116,000 after buying an additional 66 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Home Depot by 66.2% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 36,686 shares of the home improvement retailer’s stock valued at $14,073,000 after buying an additional 14,609 shares during the last quarter. Finally, MV Capital Management Inc. raised its stake in Home Depot by 1.2% in the first quarter. MV Capital Management Inc. now owns 8,087 shares of the home improvement retailer’s stock valued at $3,102,000 after buying an additional 94 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD stock opened at $392.60 on Thursday. The business has a fifty day moving average of $391.61 and a two-hundred day moving average of $361.03. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The stock has a market cap of $389.31 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $281.61 and a 52-week high of $421.56.

Home Depot (NYSE:HD) last posted 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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. Home Depot’s payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley increased their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. TD Cowen increased their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday. Stifel Nicolaus cut their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Piper Sandler increased their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Truist Financial increased their price objective on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a report on Monday, October 14th. One equities research 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 an average rating of “Moderate Buy” and an average price target of $413.48.

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.