The Home Depot, Inc. (NYSE:HD) Shares Sold by King Wealth Management Group

King Wealth Management Group lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 9.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,614 shares of the home improvement retailer’s stock after selling 1,592 shares during the period. Home Depot makes up approximately 0.9% of King Wealth Management Group’s portfolio, making the stock its 26th largest position. King Wealth Management Group’s holdings in Home Depot were worth $5,922,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc lifted its position in Home Depot by 27.6% during 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 acquiring an additional 5,879 shares during the period. Pegasus Asset Management Inc. raised its stake in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares during the last quarter. Swedbank AB lifted its holdings 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 purchasing an additional 132,967 shares in the last quarter. LGT Group Foundation grew its holdings in Home Depot by 121.0% during the 2nd quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after buying an additional 147,482 shares during the last quarter. Finally, CX Institutional increased its position in Home Depot by 225.6% during the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock worth $13,257,000 after purchasing an additional 22,668 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 1.1 %

Home Depot stock opened at $405.60 on Friday. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13. The firm has a market capitalization of $402.88 billion, a price-to-earnings ratio of 27.55, a P/E/G ratio of 2.83 and a beta of 1.01. The company has a 50 day moving average price of $397.67 and a 200 day moving average price of $365.56.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 is currently 61.14%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday. Morgan Stanley raised their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Bank of America increased their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Finally, Barclays raised their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

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.