Main Street Financial Solutions LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Main Street Financial Solutions LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,012 shares of the home improvement retailer’s stock after selling 218 shares during the period. Main Street Financial Solutions LLC’s holdings in Home Depot were worth $2,758,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $27,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the second quarter valued at approximately $33,000. Burkett Financial Services LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $38,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot during the first quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot during the fourth quarter worth approximately $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $370.49 on Thursday. The firm has a market cap of $367.38 billion, a P/E ratio of 24.85, a P/E/G ratio of 2.49 and a beta of 1.00. 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 Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The firm has a fifty day moving average of $359.31 and a two-hundred day moving average of $354.03.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business earned $4.65 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HD. Truist Financial decreased their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. DA Davidson raised their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. Finally, Raymond James reaffirmed a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $387.79.

About Home Depot

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.