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

Silverlake Wealth Management LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 39.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,404 shares of the home improvement retailer’s stock after selling 4,738 shares during the period. Home Depot accounts for approximately 1.1% of Silverlake Wealth Management LLC’s portfolio, making the stock its 12th biggest holding. Silverlake Wealth Management LLC’s holdings in Home Depot were worth $3,000,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HD. Fairway Wealth LLC acquired a new position in shares of Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot during the 2nd quarter worth $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot during the first quarter worth $38,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the fourth quarter valued at $39,000. Finally, Denver PWM LLC purchased a new position in Home Depot during the second quarter worth about $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock traded up $1.94 during trading on Friday, hitting $411.90. The stock had a trading volume of 2,717,431 shares, compared to its average volume of 3,388,611. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The business has a fifty day moving average of $378.34 and a two-hundred day moving average of $357.28. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $420.03. The firm has a market cap of $409.14 billion, a P/E ratio of 27.72, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 9.71% and a return on equity of 681.27%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 EPS. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price 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. DA Davidson boosted their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their target price for the stock from $360.00 to $460.00 in a research report on Wednesday. Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, Home Depot 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.