M3 Advisory Group LLC Sells 74 Shares of The Home Depot, Inc. (NYSE:HD)

M3 Advisory Group LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 8.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 814 shares of the home improvement retailer’s stock after selling 74 shares during the quarter. M3 Advisory Group LLC’s holdings in Home Depot were worth $330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC bought a new position in Home Depot during the 2nd quarter valued at approximately $33,000. Denver PWM LLC bought a new position in Home Depot during the 2nd quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the 2nd quarter worth approximately $47,000. Finally, Quarry LP grew its position in shares of Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $415.03 on Friday. The company has a market cap of $411.55 billion, a price-to-earnings ratio of 27.84, a P/E/G ratio of 2.88 and a beta of 1.00. The business’s fifty day simple moving average is $385.10 and its two-hundred day simple moving average is $358.53. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating 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 period last year, the firm posted $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal 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 issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent analyst reports. UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Guggenheim upped their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. DA Davidson lifted their target price on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Oppenheimer increased their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Finally, Piper Sandler lifted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $404.69.

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.