Scott & Selber Inc. Lowers Position in The Home Depot, Inc. (NYSE:HD)

Scott & Selber Inc. lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,831 shares of the home improvement retailer’s stock after selling 78 shares during the quarter. Home Depot comprises 2.0% of Scott & Selber Inc.’s holdings, making the stock its 9th biggest position. Scott & Selber Inc.’s holdings in Home Depot were worth $6,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the second quarter worth $33,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter valued at $46,000. Denver PWM LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC raised its stake in Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $405.90 on Friday. The stock has a market capitalization of $403.18 billion, a P/E ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The business has a 50 day simple moving average of $395.19 and a two-hundred day simple moving average of $363.84. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 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 firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the company earned $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s payout ratio is presently 60.57%.

Wall Street Analyst Weigh In

Several research firms have weighed in on HD. Truist Financial boosted their price target on Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research note on Thursday. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Evercore ISI decreased their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Jefferies Financial Group assumed coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $360.00 to $455.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot 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.