Marks Group Wealth Management Inc Sells 31 Shares of The Home Depot, Inc. (NYSE:HD)

Marks Group Wealth Management Inc reduced its stake in The Home Depot, Inc. (NYSE:HD) by 2.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,446 shares of the home improvement retailer’s stock after selling 31 shares during the period. Marks Group Wealth Management Inc’s holdings in Home Depot were worth $586,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Fairway Wealth LLC bought a new position in Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC bought a new position in Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC bought a new position in Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Home Depot in the second quarter valued at approximately $47,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

NYSE:HD opened at $388.19 on Thursday. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The firm has a market capitalization of $385.59 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 2.74 and a beta of 1.01. The stock’s 50 day moving average price is $393.80 and its two-hundred day moving average price is $363.10. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the business earned $4.65 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business 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. This represents a $9.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus cut their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, DA Davidson raised their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $416.37.

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.