Deseret Mutual Benefit Administrators Decreases Position in The Home Depot, Inc. (NYSE:HD)

Deseret Mutual Benefit Administrators reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,857 shares of the home improvement retailer’s stock after selling 87 shares during the quarter. Home Depot accounts for approximately 1.0% of Deseret Mutual Benefit Administrators’ holdings, making the stock its 14th largest holding. Deseret Mutual Benefit Administrators’ holdings in Home Depot were worth $1,968,000 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 the stock. Abacus Wealth Partners LLC grew its holdings in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. grew its stake in shares of Home Depot by 1.2% during the second 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 during the last quarter. Acorn Creek Capital LLC increased its holdings in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp raised its position in Home Depot by 1.9% in 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. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on HD shares. Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Stifel Nicolaus lowered their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Wells Fargo & Company upped their target price on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday. Melius Research initiated coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $416.37.

Home Depot Stock Performance

HD opened at $390.00 on Thursday. 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 12-month low of $286.79 and a 12-month high of $421.56. The business has a 50 day moving average of $393.80 and a 200-day moving average of $363.10. The stock has a market cap of $387.38 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the firm posted $4.65 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.31%. Home Depot’s dividend payout ratio is currently 60.57%.

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.