LexAurum Advisors LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

LexAurum Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,366 shares of the home improvement retailer’s stock after selling 51 shares during the quarter. LexAurum Advisors LLC’s holdings in Home Depot were worth $959,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the second quarter valued at about $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the second quarter valued at about $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot during the second quarter valued at about $47,000. Finally, Quarry LP grew its stake in shares of Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after acquiring an additional 36 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. DA Davidson lifted their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial lifted their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday. Evercore ISI decreased their price target 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. Finally, Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Price Performance

Shares of NYSE:HD opened at $415.75 on Friday. 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 cap of $412.26 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.88 and a beta of 1.00. The stock’s 50 day moving average price is $383.77 and its 200 day moving average price is $358.20. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 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 firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued 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 yield of 2.16%. Home Depot’s payout ratio is 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.