Creekmur Asset Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Creekmur Asset Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 644 shares of the home improvement retailer’s stock after selling 53 shares during the quarter. Creekmur Asset Management LLC’s holdings in Home Depot were worth $261,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares during the period. Empirical Finance LLC raised its holdings in shares of Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares during the period. Pegasus Asset Management Inc. raised its holdings in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the period. Commonwealth Retirement Investments LLC raised its holdings in shares of Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after purchasing an additional 965 shares during the period. Finally, Swedbank AB grew its stake in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.6 %

Shares of NYSE HD opened at $392.60 on Thursday. The company has a market cap of $389.31 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a 12-month low of $281.61 and a 12-month high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock’s 50 day simple moving average is $391.61 and its 200 day simple moving average is $361.03.

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, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on HD. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. TD Cowen increased their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday. Guggenheim increased their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Truist Financial increased their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, UBS Group increased their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.