The Home Depot, Inc. (NYSE:HD) Shares Sold by Riverwater Partners LLC

Riverwater Partners LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 748 shares of the home improvement retailer’s stock after selling 27 shares during the quarter. Riverwater Partners LLC’s holdings in Home Depot were worth $308,000 as of its most recent SEC filing.

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

Home Depot Trading Up 0.7 %

HD opened at $402.40 on Friday. The business has a fifty day moving average price of $388.23 and a 200 day moving average price of $359.43. 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 12 month low of $274.26 and a 12 month high of $421.56. The stock has a market capitalization of $399.03 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 2.88 and a beta of 1.00.

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 firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the company earned $4.65 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 annualized dividend and a yield of 2.24%. Home Depot’s dividend payout ratio is currently 60.36%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HD. Truist Financial lifted their target price on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Sanford C. Bernstein assumed coverage on Home Depot in a research report on Tuesday. They set a “market perform” rating and a $451.00 target price on the stock. Piper Sandler upped their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Jefferies Financial Group started coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. One 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 company. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $410.67.

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.