Acorn Financial Advisory Services Inc. ADV Sells 160 Shares of The Home Depot, Inc. (NYSE:HD)

Acorn Financial Advisory Services Inc. ADV lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 10.9% in the third quarter, HoldingsChannel reports. The firm owned 1,309 shares of the home improvement retailer’s stock after selling 160 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Home Depot were worth $530,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the 2nd quarter valued at approximately $33,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 3rd quarter valued at $46,000. Denver PWM LLC bought a new stake in shares of Home Depot during the 2nd quarter worth $40,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $405.90 on Friday. The Home Depot, Inc. has a 1-year low of $286.79 and a 1-year high of $421.56. The firm has a market capitalization of $403.18 billion, a PE ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The business’s 50 day moving average is $395.19 and its 200-day moving average is $363.84. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.65 EPS. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid 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 yield of 2.22%. Home Depot’s payout ratio is 60.57%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HD shares. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. UBS Group increased their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Truist Financial increased their price objective on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research note on Thursday. Gordon Haskett raised 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. Finally, Piper Sandler increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $420.04.

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.