The Home Depot, Inc. (NYSE:HD) Position Lowered by Diversified Portfolios Inc.

Diversified Portfolios Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 4.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 823 shares of the home improvement retailer’s stock after selling 42 shares during the period. Diversified Portfolios Inc.’s holdings in Home Depot were worth $334,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot during the 2nd quarter worth $33,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the 3rd quarter worth about $46,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the second quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HD shares. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday. Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Bank of America raised their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday. Oppenheimer boosted their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Down 1.1 %

Shares of HD opened at $405.60 on Friday. The business’s fifty day moving average price is $397.67 and its two-hundred day moving average price is $365.56. The firm has a market capitalization of $402.88 billion, a price-to-earnings ratio of 27.55, a PEG ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.81 earnings per share. On average, analysts predict that The Home Depot, Inc. will post 15.06 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.22%. Home Depot’s dividend payout ratio is currently 61.14%.

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.