Valley Wealth Managers Inc. Sells 496 Shares of The Home Depot, Inc. (NYSE:HD)

Valley Wealth Managers Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,940 shares of the home improvement retailer’s stock after selling 496 shares during the period. Valley Wealth Managers Inc.’s holdings in Home Depot were worth $4,838,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WFA Asset Management Corp increased its holdings in Home Depot by 10.7% in the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after acquiring an additional 135 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its position in Home Depot by 5.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after purchasing an additional 623 shares during the last quarter. M&G Plc bought a new stake in shares of Home Depot in the 1st quarter worth about $68,129,000. First Foundation Advisors lifted its holdings in shares of Home Depot by 5.0% in the 1st quarter. First Foundation Advisors now owns 11,278 shares of the home improvement retailer’s stock valued at $4,326,000 after acquiring an additional 542 shares during the last quarter. Finally, Councilmark Asset Management LLC purchased a new position in Home Depot in the first quarter worth about $6,296,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 0.0 %

Shares of NYSE HD traded up $0.15 during mid-day trading on Friday, reaching $405.87. 393,087 shares of the company’s stock were exchanged, compared to its average volume of 3,368,742. The firm has a market capitalization of $403.15 billion, a price-to-earnings ratio of 27.65, a PEG ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 52-week low of $302.34 and a 52-week high of $421.56. The company’s 50-day moving average is $398.55 and its 200-day moving average is $365.84. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.33 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the business posted $3.81 EPS. Analysts expect that The Home Depot, Inc. will post 15.06 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s payout ratio is currently 61.14%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. TD Cowen raised their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, Evercore ISI boosted their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

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.