WT Wealth Management Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

WT Wealth Management trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 16.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,437 shares of the home improvement retailer’s stock after selling 1,492 shares during the period. WT Wealth Management’s holdings in Home Depot were worth $3,086,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Abacus Wealth Partners LLC boosted its stake in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. boosted its position in Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC grew its stake in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Talisman Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Guggenheim lifted their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Melius Research began coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday. They set a “market perform” rating and a $451.00 target price on the stock. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given 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 a consensus target price of $410.67.

Home Depot Trading Down 1.1 %

NYSE HD opened at $401.85 on Wednesday. The firm’s fifty day moving average is $387.35 and its two-hundred day moving average is $359.15. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a market cap of $398.48 billion, a PE ratio of 26.95, a P/E/G ratio of 2.88 and a beta of 1.00.

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 681.27% 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 business earned $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. Analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued 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 was Thursday, August 29th. 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.