Blue Trust Inc. Sells 2,266 Shares of The Home Depot, Inc. (NYSE:HD)

Blue Trust Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 7.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,263 shares of the home improvement retailer’s stock after selling 2,266 shares during the period. Blue Trust Inc.’s holdings in Home Depot were worth $12,263,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the second quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Home Depot in the second quarter valued at approximately $47,000. Finally, Quarry LP boosted its position in shares of Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after buying an additional 36 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HD shares. Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Piper Sandler boosted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. 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. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $404.69.

Home Depot Price Performance

HD opened at $415.03 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 Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $421.56. The stock has a market capitalization of $411.55 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The stock’s 50 day moving average price is $385.10 and its 200-day moving average price is $358.53.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $4.65 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

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.