Archer Investment Corp Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Archer Investment Corp cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,557 shares of the home improvement retailer’s stock after selling 133 shares during the quarter. Archer Investment Corp’s holdings in Home Depot were worth $2,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Fairway Wealth LLC bought a new stake in Home Depot during the second quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot during the 2nd quarter valued at $47,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HD. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Guggenheim raised their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Evercore ISI increased their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday. Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Finally, Truist Financial upped their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Performance

Shares of NYSE:HD traded up $1.24 during trading on Friday, reaching $406.96. 327,023 shares of the company’s stock traded hands, compared to its average volume of 3,368,445. The stock has a market capitalization of $404.23 billion, a P/E ratio of 27.65, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a 50 day moving average of $398.55 and a 200-day moving average of $365.84. The Home Depot, Inc. has a 12 month low of $302.34 and a 12 month high of $421.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.81 earnings per share. On average, equities analysts expect that The Home Depot, Inc. will post 15.06 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. Home Depot’s dividend payout ratio is presently 61.14%.

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.