Leisure Capital Management Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Leisure Capital Management decreased its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 10.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,157 shares of the home improvement retailer’s stock after selling 972 shares during the quarter. Home Depot makes up about 1.4% of Leisure Capital Management’s portfolio, making the stock its 14th biggest holding. Leisure Capital Management’s holdings in Home Depot were worth $3,305,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Home Depot in the first quarter valued at approximately $38,000. General Partner Inc. lifted its holdings in Home Depot by 7.6% during the 1st quarter. General Partner Inc. now owns 9,979 shares of the home improvement retailer’s stock worth $3,828,000 after buying an additional 709 shares during the last quarter. Confluence Investment Management LLC acquired a new position in Home Depot in the first quarter worth $150,524,000. Modus Advisors LLC grew its position in shares of Home Depot by 2.4% during the 1st quarter. Modus Advisors LLC now owns 8,804 shares of the home improvement retailer’s stock valued at $3,377,000 after buying an additional 208 shares during the last quarter. Finally, Avondale Wealth Management raised its position in shares of Home Depot by 13.3% during the 1st quarter. Avondale Wealth Management now owns 850 shares of the home improvement retailer’s stock worth $326,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD traded down $0.27 during mid-day trading on Wednesday, hitting $415.31. The company had a trading volume of 522,649 shares, compared to its average volume of 3,369,896. 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’s 50-day moving average price is $380.90 and its 200-day moving average price is $357.37. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The company has a market capitalization of $411.83 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD – Get Free Report) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. 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 prior year, the business earned $4.65 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company 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. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s payout ratio is 60.36%.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. UBS Group boosted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Piper Sandler increased their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Stifel Nicolaus decreased their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $404.69.

Check Out Our Latest Stock Analysis on HD

Home Depot Company Profile

(Free Report)

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.

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