Archer Investment Corp Sells 133 Shares of The Home Depot, Inc. (NYSE:HD)

Archer Investment Corp trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,557 shares of the home improvement retailer’s stock after selling 133 shares during the quarter. Archer Investment Corp’s holdings in Home Depot were worth $2,252,000 at the end of the most recent reporting period.

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

Home Depot Stock Performance

Shares of HD stock traded up $1.24 during trading hours on Friday, reaching $406.96. 327,023 shares of the company’s stock were exchanged, compared to its average volume of 3,368,445. The Home Depot, Inc. has a fifty-two week low of $302.34 and a fifty-two week high of $421.56. The business has a fifty day moving average price of $398.55 and a 200-day moving average price of $365.84. The stock has a market capitalization of $404.23 billion, a P/E ratio of 27.65, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter last year, the business earned $3.81 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.06 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.21%. Home Depot’s dividend payout ratio is currently 61.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HD shares. 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 report on Monday, August 5th. Truist Financial raised their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday. TD Cowen boosted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Evercore ISI upped their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, DA Davidson upped their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

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.