The Home Depot, Inc. (NYSE:HD) Shares Sold by First National Bank of Hutchinson

First National Bank of Hutchinson trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 11.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,694 shares of the home improvement retailer’s stock after selling 333 shares during the quarter. First National Bank of Hutchinson’s holdings in Home Depot were worth $1,092,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new position in Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC acquired a new position in Home Depot during the 2nd quarter worth $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the third quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter valued at $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HD. Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Evercore ISI decreased their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, Truist Financial raised their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $410.67.

Home Depot Stock Performance

Shares of HD stock opened at $402.40 on Friday. The firm has a market cap of $399.03 billion, a P/E ratio of 26.99, a PEG ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The stock’s 50-day moving average is $388.23 and its two-hundred day moving average is $359.43.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 earnings per share. Analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

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.