McElhenny Sheffield Capital Management LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

McElhenny Sheffield Capital Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 576 shares of the home improvement retailer’s stock after selling 48 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Home Depot were worth $233,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HD. Wulff Hansen & CO. lifted its position in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after acquiring an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd purchased a new stake in Home Depot in the first quarter worth about $513,016,000. Price T Rowe Associates Inc. MD increased its stake in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Swedbank AB purchased a new position in shares of Home Depot during the first quarter valued at approximately $301,364,000. Finally, Jennison Associates LLC boosted its position in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HD shares. Truist Financial raised their price objective on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. DA Davidson raised their price target on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Melius Research assumed coverage on shares of Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Oppenheimer raised 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 note on Tuesday, September 24th. Finally, Piper Sandler lifted 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $404.69.

Home Depot Stock Down 0.1 %

NYSE HD opened at $415.00 on Monday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a market cap of $411.52 billion, a PE ratio of 27.83, a P/E/G ratio of 2.88 and a beta of 1.00. The stock’s 50 day moving average is $385.10 and its 200 day moving average is $358.49.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The company’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.01 EPS 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 dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is currently 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.