Raleigh Capital Management Inc. Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

Raleigh Capital Management Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,415 shares of the home improvement retailer’s stock after selling 212 shares during the period. Raleigh Capital Management Inc.’s holdings in Home Depot were worth $1,384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HD. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the second quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the 2nd quarter worth approximately $47,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. DA Davidson upped their price target on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Truist Financial boosted their price objective on shares of Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $409.12.

Home Depot Trading Down 2.0 %

NYSE HD opened at $406.52 on Tuesday. The firm has a market capitalization of $403.11 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56. The company has a 50-day simple moving average of $386.31 and a 200-day simple moving average of $358.83. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

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

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 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.