Horizons Wealth Management Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Horizons Wealth Management lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 41.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 671 shares of the home improvement retailer’s stock after selling 466 shares during the period. Horizons Wealth Management’s holdings in Home Depot were worth $244,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its position in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Home Depot by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after purchasing an additional 347,614 shares during the period. Norges Bank purchased a new position in shares of Home Depot in the fourth quarter valued at $4,311,070,000. Fisher Asset Management LLC boosted its position in Home Depot by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock valued at $3,050,363,000 after buying an additional 195,670 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HD. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. JPMorgan Chase & Co. upped their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and raised their target price for the company from $352.00 to $395.00 in a research note on Wednesday, June 26th. Truist Financial lowered their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Finally, Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Stock Up 1.2 %

Shares of NYSE HD traded up $4.27 during trading hours on Tuesday, hitting $367.34. The stock had a trading volume of 3,457,963 shares, compared to its average volume of 3,435,531. The company has a market capitalization of $364.26 billion, a P/E ratio of 24.50, a P/E/G ratio of 2.48 and a beta of 0.98. The firm’s 50-day moving average price is $351.35 and its two-hundred day moving average price is $353.25. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87.

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 analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Home Depot 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.