Peterson Wealth Management Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Peterson Wealth Management cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,470 shares of the home improvement retailer’s stock after selling 182 shares during the period. Home Depot makes up about 2.2% of Peterson Wealth Management’s portfolio, making the stock its 19th biggest holding. Peterson Wealth Management’s holdings in Home Depot were worth $3,432,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HD. Fairway Wealth LLC bought a new position in shares of Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the 2nd quarter valued at approximately $33,000. Denver PWM LLC purchased a new position in shares of Home Depot in the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 in the last ninety days. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HD. Stifel Nicolaus lifted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Gordon Haskett upgraded 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. Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, Bank of America boosted their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Stock Performance

Shares of Home Depot stock opened at $427.19 on Friday. The Home Depot, Inc. has a one year low of $308.59 and a one year high of $439.37. The company has a market capitalization of $424.35 billion, a PE ratio of 29.02, a P/E/G ratio of 2.97 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a 50-day simple moving average of $406.69 and a two-hundred day simple moving average of $371.20.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.81 EPS. Research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.11%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Home Depot 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.