The Home Depot, Inc. (NYSE:HD) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,715 shares of the home improvement retailer’s stock after selling 4,577 shares during the quarter. Van ECK Associates Corp’s holdings in Home Depot were worth $21,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of HD. Abacus Wealth Partners LLC raised its stake in shares of Home Depot by 3.7% during 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 during the period. Redhawk Wealth Advisors Inc. boosted its holdings in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. grew its stake in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares in the last quarter. Acorn Creek Capital LLC increased its holdings 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 purchasing an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp increased its holdings in Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $395.57 on Tuesday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 52-week low of $286.79 and a 52-week high of $421.56. The stock has a market capitalization of $392.92 billion, a price-to-earnings ratio of 26.62, a PEG ratio of 2.73 and a beta of 1.01. The stock’s fifty day simple moving average is $392.94 and its 200 day simple moving average is $362.47.

Home Depot (NYSE:HD) last released its earnings results 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. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the firm posted $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.57%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Piper Sandler boosted their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Oppenheimer lifted their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Telsey Advisory Group restated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Finally, Guggenheim lifted their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $413.48.

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.