Deseret Mutual Benefit Administrators Sells 87 Shares of The Home Depot, Inc. (NYSE:HD)

Deseret Mutual Benefit Administrators decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,857 shares of the home improvement retailer’s stock after selling 87 shares during the quarter. Home Depot accounts for about 1.0% of Deseret Mutual Benefit Administrators’ portfolio, making the stock its 14th largest holding. Deseret Mutual Benefit Administrators’ holdings in Home Depot were worth $1,968,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Fairway Wealth LLC acquired a new stake in Home Depot during the second quarter worth approximately $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC acquired a new position in Home Depot in the second quarter valued at about $40,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot in the second quarter valued at approximately $47,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and raised their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. TD Cowen raised their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Guggenheim lifted their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Truist Financial increased their target price on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $416.37.

Home Depot Stock Performance

Shares of HD opened at $390.00 on Thursday. 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 firm’s fifty day simple moving average is $393.80 and its two-hundred day simple moving average is $363.10. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The stock has a market capitalization of $387.38 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01.

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, beating analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.65 EPS. As a group, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed 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 was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

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.