Pure Financial Advisors LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Pure Financial Advisors LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,918 shares of the home improvement retailer’s stock after selling 221 shares during the period. Pure Financial Advisors LLC’s holdings in Home Depot were worth $4,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. 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 shares of Home Depot in the second quarter worth about $33,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the third quarter worth about $46,000. Denver PWM LLC purchased a new stake in Home Depot in the second quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC increased its holdings in Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 51 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 0.3 %

Shares of HD opened at $392.59 on Monday. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56. The firm has a market capitalization of $389.96 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.73 and a beta of 1.01. The firm has a 50-day moving average price of $392.51 and a 200 day moving average price of $362.03. 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 released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. 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 earned $4.65 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. Oppenheimer upped their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Truist Financial increased their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Sanford C. Bernstein initiated coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Finally, DA Davidson upped their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $413.48.

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.