The Home Depot, Inc. (NYSE:HD) Shares Sold by Lederer & Associates Investment Counsel CA

Lederer & Associates Investment Counsel CA reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,648 shares of the home improvement retailer’s stock after selling 240 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Home Depot were worth $912,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HD. Ruedi Wealth Management Inc. grew its position in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the period. Cape Investment Advisory Inc. grew its holdings in shares of Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares during the period. Acorn Creek Capital LLC increased 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 valued at $291,000 after purchasing an additional 28 shares in the last quarter. STAR Financial Bank raised its holdings in Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after purchasing an additional 29 shares during the last quarter. Finally, Talisman Wealth Advisors LLC raised its holdings in Home Depot by 1.2% during the first 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 during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

HD stock opened at $363.76 on Wednesday. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a 50-day moving average of $356.09 and a two-hundred day moving average of $353.98. The firm has a market capitalization of $360.71 billion, a PE ratio of 24.46, a P/E/G ratio of 2.55 and a beta of 0.98. 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 released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the previous year, the business earned $4.65 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.47%. Home Depot’s dividend payout ratio is 60.36%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. DA Davidson upped their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday. Truist Financial cut their price objective on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Wells Fargo & Company lowered their target price on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $387.79.

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.