The Home Depot, Inc. (NYSE:HD) Shares Sold by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 28.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,365 shares of the home improvement retailer’s stock after selling 536 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Home Depot were worth $553,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Penn Davis Mcfarland Inc. acquired a new stake in shares of Home Depot in the third quarter valued at about $425,000. One Degree Advisors Inc acquired a new stake in Home Depot in the third quarter valued at approximately $200,000. ACT Advisors LLC. acquired a new position in shares of Home Depot during the third quarter worth $228,000. Vest Financial LLC boosted its stake in shares of Home Depot by 163.2% in the third quarter. Vest Financial LLC now owns 4,466 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 2,769 shares during the period. Finally, Stegent Equity Advisors Inc. increased its stake in Home Depot by 9.5% during the 3rd quarter. Stegent Equity Advisors Inc. now owns 821 shares of the home improvement retailer’s stock worth $333,000 after buying an additional 71 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HD. JPMorgan Chase & Co. lifted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. UBS Group upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Evercore ISI decreased their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.69.

Home Depot Stock Performance

HD stock opened at $415.00 on Monday. The company has a market capitalization of $411.52 billion, a P/E ratio of 27.83, a PEG ratio of 2.88 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a 50-day simple moving average of $385.10 and a 200 day simple moving average of $358.49. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating 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 company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm earned $4.65 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Home Depot Company Profile

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.