Simmons Bank Sells 372 Shares of The Home Depot, Inc. (NYSE:HD)

Simmons Bank lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,747 shares of the home improvement retailer’s stock after selling 372 shares during the quarter. Home Depot makes up approximately 0.9% of Simmons Bank’s holdings, making the stock its 27th biggest holding. Simmons Bank’s holdings in Home Depot were worth $12,053,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the 2nd quarter worth about $33,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the 3rd quarter valued at about $46,000. Denver PWM LLC bought a new position in shares of Home Depot in the 2nd quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC grew 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 buying an additional 51 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on HD. JPMorgan Chase & Co. raised their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Guggenheim increased their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Truist Financial boosted their target price on Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company increased their price target on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $423.74.

Home Depot Trading Down 1.3 %

Shares of NYSE:HD opened at $403.17 on Wednesday. The Home Depot, Inc. has a 52-week low of $287.24 and a 52-week high of $421.56. 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 company has a market capitalization of $400.46 billion, a P/E ratio of 27.13, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01. The company has a 50-day simple moving average of $396.76 and a 200 day simple moving average of $365.25.

Home Depot (NYSE:HD) last released its quarterly earnings data 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. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the firm posted $4.65 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 14.99 earnings per share for the current year.

Home Depot Dividend Announcement

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 $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is presently 60.57%.

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.