Red Mountain Financial LLC Has $650,000 Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Red Mountain Financial LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 3.3% during the third quarter, Holdings Channel reports. The firm owned 1,605 shares of the home improvement retailer’s stock after selling 55 shares during the quarter. Red Mountain Financial LLC’s holdings in Home Depot were worth $650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Walker Financial Services Inc. acquired a new position in Home Depot during the 3rd quarter worth approximately $231,000. Ferguson Shapiro LLC raised its stake in Home Depot by 0.9% during the 3rd quarter. Ferguson Shapiro LLC now owns 12,244 shares of the home improvement retailer’s stock worth $4,961,000 after buying an additional 106 shares during the period. Fermata Advisors LLC raised its stake in Home Depot by 8.1% during the 3rd quarter. Fermata Advisors LLC now owns 1,488 shares of the home improvement retailer’s stock worth $603,000 after buying an additional 112 shares during the period. Davies Financial Advisors Inc. raised its stake in Home Depot by 125.9% during the 3rd quarter. Davies Financial Advisors Inc. now owns 5,482 shares of the home improvement retailer’s stock worth $2,221,000 after buying an additional 3,055 shares during the period. Finally, JGP Wealth Management LLC raised its stake in Home Depot by 0.9% during the 3rd quarter. JGP Wealth Management LLC now owns 11,064 shares of the home improvement retailer’s stock worth $4,483,000 after buying an additional 96 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE HD opened at $411.90 on Friday. The stock has a fifty day simple moving average of $378.34 and a two-hundred day simple moving average of $357.28. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $420.03. The firm has a market cap of $409.14 billion, a price-to-earnings ratio of 27.72, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the company earned $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.57%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HD shares. DA Davidson upped their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus lowered their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Piper Sandler increased their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Finally, Truist Financial lowered their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $402.38.

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.