Valley Wealth Managers Inc. Sells 837 Shares of The Home Depot, Inc. (NYSE:HD)

Valley Wealth Managers Inc. lessened its position in The Home Depot, Inc. (NYSE:HD) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,436 shares of the home improvement retailer’s stock after selling 837 shares during the period. Valley Wealth Managers Inc.’s holdings in Home Depot were worth $4,281,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ruedi Wealth Management Inc. grew its position in 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 worth $817,000 after buying an additional 27 shares in the last quarter. Cape Investment Advisory Inc. grew its position in Home Depot by 1.4% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after buying an additional 28 shares in the last quarter. Acorn Creek Capital LLC grew its position in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares in the last quarter. STAR Financial Bank grew its position in Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock worth $1,367,000 after buying an additional 29 shares in the last quarter. Finally, Talisman Wealth Advisors LLC grew its position in Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Loop Capital reduced their target price on Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. Truist Financial reduced their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, UBS Group increased their price target 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $387.79.

Home Depot Stock Performance

HD stock opened at $374.49 on Friday. The stock has a 50-day moving average price of $360.13 and a 200-day moving average price of $354.18. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. 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 firm has a market cap of $371.98 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results 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. The company had revenue of $43.18 billion during 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 firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the business posted $4.65 EPS. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.40%. Home Depot’s dividend payout ratio is presently 60.36%.

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.