The Home Depot, Inc. (NYSE:HD) Shares Sold by Kovack Advisors Inc.

by · The Markets Daily

Kovack Advisors Inc. reduced its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 5.4% during the 3rd quarter, Holdings Channel reports. The fund owned 14,272 shares of the home improvement retailer’s stock after selling 820 shares during the quarter. Kovack Advisors Inc.’s holdings in Home Depot were worth $5,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new position in Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $33,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 3rd quarter valued at about $46,000. Denver PWM LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC raised its position 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 in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on HD shares. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their price target for the company from $360.00 to $455.00 in a research note on Friday, November 8th. Truist Financial increased their target price on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $424.67.

Check Out Our Latest Stock Report on Home Depot

Home Depot Trading Up 1.3 %

Home Depot stock traded up $5.04 during trading on Wednesday, hitting $408.12. The company’s stock had a trading volume of 763,037 shares, compared to its average volume of 3,371,817. The stock’s fifty day moving average is $396.76 and its 200 day moving average is $365.25. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 1-year low of $300.14 and a 1-year high of $421.56. The stock has a market capitalization of $405.38 billion, a price-to-earnings ratio of 27.71, a P/E/G ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD – Get Free Report) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the company earned $3.81 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. As a group, equities research analysts predict that The Home Depot, Inc. will post 14.99 EPS for the current year.

Home Depot Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.21%. Home Depot’s payout ratio is 60.57%.

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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