The Home Depot, Inc. (NYSE:HD) Stake Reduced by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 5.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 13,307 shares of the home improvement retailer’s stock after selling 711 shares during the quarter. Home Depot makes up about 1.3% of Burke & Herbert Bank & Trust Co.’s investment portfolio, making the stock its 17th largest holding. Burke & Herbert Bank & Trust Co.’s holdings in Home Depot were worth $5,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Abacus Wealth Partners LLC increased its stake in Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Ruedi Wealth Management Inc. lifted its position in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares in the last quarter. Acorn Creek Capital LLC boosted its stake in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the period. Finally, Talisman Wealth Advisors LLC grew its position in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus lowered their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Sanford C. Bernstein started coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Morgan Stanley lifted their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Guggenheim upped their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One investment 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 stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $412.00.

Home Depot Stock Performance

Shares of NYSE HD opened at $398.91 on Friday. The firm has a market capitalization of $396.23 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56. The business has a fifty day simple moving average of $389.81 and a 200 day simple moving average of $359.98. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its earnings results 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. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current 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 given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

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.