Brighton Jones LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Brighton Jones LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,715 shares of the home improvement retailer’s stock after selling 3,354 shares during the quarter. Brighton Jones LLC’s holdings in Home Depot were worth $7,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on HD. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. UBS Group upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus reduced their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, Piper Sandler boosted their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Stock Up 0.7 %

HD stock opened at $402.40 on Friday. 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 company’s 50-day moving average price is $388.23 and its 200 day moving average price is $359.43. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $421.56. The company has a market cap of $399.03 billion, a P/E ratio of 26.99, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 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 analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.65 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.