Valley Wealth Managers Inc. Decreases Position in The Home Depot, Inc. (NYSE:HD)

Valley Wealth Managers Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.0% during the third quarter, HoldingsChannel reports. The fund owned 11,940 shares of the home improvement retailer’s stock after selling 496 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Home Depot were worth $4,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC bought a new stake in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Home Depot in the second quarter valued at approximately $47,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the subject of a number of research reports. Evercore ISI increased their price target on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Melius Research started coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Trading Up 0.0 %

HD traded up $0.15 on Friday, reaching $405.87. 393,087 shares of the company traded hands, compared to its average volume of 3,368,742. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $403.15 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The firm has a fifty day simple moving average of $398.55 and a two-hundred day simple moving average of $365.84. The Home Depot, Inc. has a one year low of $302.34 and a one year high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the prior year, the company earned $3.81 EPS. The business’s revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.06 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is currently 61.14%.

About Home Depot

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.