The Home Depot, Inc. (NYSE:HD) Shares Sold by KG&L Capital Management LLC

KG&L Capital Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,212 shares of the home improvement retailer’s stock after selling 214 shares during the period. KG&L Capital Management LLC’s holdings in Home Depot were worth $2,112,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Abacus Wealth Partners LLC lifted its position in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. raised its stake in shares of Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. lifted its position in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC boosted its stake in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp raised its stake in shares of Home Depot by 1.9% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on HD shares. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Stock Performance

Shares of Home Depot stock opened at $392.59 on Monday. The stock’s 50-day moving average is $392.51 and its 200-day moving average is $362.03. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56. The firm has a market cap of $389.96 billion, a price-to-earnings ratio of 26.42, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

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

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

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.