The Home Depot, Inc. (NYSE:HD) Stock Position Decreased by Richwood Investment Advisors LLC

Richwood Investment Advisors LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,695 shares of the home improvement retailer’s stock after selling 37 shares during the period. Home Depot makes up about 1.2% of Richwood Investment Advisors LLC’s holdings, making the stock its 18th biggest position. Richwood Investment Advisors LLC’s holdings in Home Depot were worth $1,497,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC purchased a new position in Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter worth $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot in the first quarter worth $38,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the fourth quarter valued at $39,000. Finally, Denver PWM LLC acquired a new position in Home Depot during the second quarter valued at $40,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HD shares. Oppenheimer lifted their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Truist Financial boosted their price target on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a report on Monday. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Stock Performance

NYSE:HD traded up $5.29 during midday trading on Tuesday, reaching $420.71. The stock had a trading volume of 889,727 shares, compared to its average volume of 3,369,895. The stock has a market capitalization of $417.18 billion, a P/E ratio of 28.19, a PEG ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $421.56. 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 firm’s fifty day simple moving average is $379.66 and its 200-day simple moving average is $357.15.

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. The company 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 681.27% and a net margin of 9.71%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted $4.65 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.14%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 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.