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

Spectrum Wealth Counsel LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,926 shares of the home improvement retailer’s stock after selling 1,193 shares during the quarter. Home Depot comprises approximately 1.2% of Spectrum Wealth Counsel LLC’s investment portfolio, making the stock its 24th largest holding. Spectrum Wealth Counsel LLC’s holdings in Home Depot were worth $9,269,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Capital Research Global Investors boosted its stake in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares during the last quarter. Norges Bank acquired a new position in Home Depot in the fourth quarter valued at approximately $4,311,070,000. Fisher Asset Management LLC boosted its position in Home Depot by 2.1% in the 4th quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after purchasing an additional 569,690 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Jefferies Financial Group started coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Truist Financial lowered their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday. Finally, Royal Bank of Canada decreased their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $387.79.

Home Depot Stock Performance

NYSE HD opened at $379.99 on Friday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock’s fifty day moving average is $361.04 and its two-hundred day moving average is $354.09. The firm has a market capitalization of $377.44 billion, a P/E ratio of 25.49, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

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.