West Coast Financial LLC Sells 36 Shares of The Home Depot, Inc. (NYSE:HD)

West Coast Financial LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,835 shares of the home improvement retailer’s stock after selling 36 shares during the quarter. West Coast Financial LLC’s holdings in Home Depot were worth $9,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Abacus Wealth Partners LLC grew its stake in shares of Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the period. Ruedi Wealth Management Inc. increased its stake in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after acquiring an additional 27 shares during the last quarter. Acorn Creek Capital LLC raised its holdings in shares of Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the period. Talisman Wealth Advisors LLC lifted its stake in shares of Home Depot by 1.2% in the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares in the last quarter. Finally, LMG Wealth Partners LLC grew its holdings in shares of Home Depot by 1.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock worth $588,000 after purchasing an additional 29 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of HD traded up $2.49 during mid-day trading on Friday, reaching $412.45. 787,847 shares of the company’s stock traded hands, compared to its average volume of 3,379,683. The business’s 50-day moving average price is $377.21 and its 200-day moving average price is $357.09. The stock has a market capitalization of $409.68 billion, a P/E ratio of 27.63, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. 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 Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $420.03.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company 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 earnings per share. The business’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts predict 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. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.18%. Home Depot’s payout ratio is 60.57%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Truist Financial cut their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. UBS Group increased their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus reduced their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Finally, Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One equities research 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, the company has a consensus rating of “Moderate Buy” and an average target price of $402.38.

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.