Koa Wealth Management LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Koa Wealth Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,810 shares of the home improvement retailer’s stock after selling 116 shares during the period. Home Depot accounts for about 1.5% of Koa Wealth Management LLC’s holdings, making the stock its 24th largest holding. Koa Wealth Management LLC’s holdings in Home Depot were worth $1,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Abacus Wealth Partners LLC boosted its holdings in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. grew its position in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the last quarter. Acorn Creek Capital LLC raised its stake in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp boosted its stake in Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after acquiring an additional 28 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on HD shares. Morgan Stanley raised their price target on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Evercore ISI lifted their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Insider Buying and Selling at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Price Performance

HD stock opened at $408.25 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. The stock’s 50 day moving average price is $399.51 and its 200 day moving average price is $366.34. The firm has a market cap of $405.51 billion, a P/E ratio of 27.73, a PEG ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $302.34 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the previous year, the firm posted $3.81 EPS. Home Depot’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.06 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s dividend payout ratio is currently 61.14%.

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.