Novare Capital Management LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Novare Capital Management LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,942 shares of the home improvement retailer’s stock after selling 255 shares during the quarter. Home Depot comprises approximately 1.2% of Novare Capital Management LLC’s holdings, making the stock its 22nd largest holding. Novare Capital Management LLC’s holdings in Home Depot were worth $14,159,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abacus Wealth Partners LLC increased its position in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its position in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after purchasing an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. increased its position in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC raised its stake in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares in the last quarter. Finally, Talisman Wealth Advisors LLC lifted its holdings in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after buying an additional 29 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on HD shares. 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 report on Wednesday, August 14th. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. DA Davidson lifted their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Finally, Royal Bank of Canada decreased their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Stock Performance

NYSE HD traded up $2.49 on Monday, hitting $414.39. 373,655 shares of the company’s stock were exchanged, compared to its average volume of 3,374,246. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm’s 50-day moving average price is $378.34 and its two-hundred day moving average price is $356.92. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $420.03. The firm has a market cap of $410.91 billion, a price-to-earnings ratio of 27.75, a P/E/G ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

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.