Valley Wealth Managers Inc. Sells 837 Shares of The Home Depot, Inc. (NYSE:HD)

Valley Wealth Managers Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,436 shares of the home improvement retailer’s stock after selling 837 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Home Depot were worth $4,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $27,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the 2nd quarter worth approximately $33,000. Burkett Financial Services LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $38,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the 1st quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 4th quarter worth approximately $39,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 1.1 %

Shares of NYSE:HD opened at $374.49 on Friday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The firm has a fifty day moving average of $360.13 and a 200 day moving average of $354.18. The firm has a market capitalization of $371.98 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced 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 net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.40%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HD shares. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Stifel Nicolaus lowered their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Loop Capital lowered their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. DA Davidson lifted their price target on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $387.79.

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.