abrdn plc Sells 3,187 Shares of The Home Depot, Inc. (NYSE:HD)

abrdn plc decreased its stake in The Home Depot, Inc. (NYSE:HD) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 988,217 shares of the home improvement retailer’s stock after selling 3,187 shares during the period. Home Depot accounts for about 0.7% of abrdn plc’s holdings, making the stock its 19th biggest position. abrdn plc owned about 0.10% of Home Depot worth $398,345,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Fairway Wealth LLC bought a new stake in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at approximately $40,000. Livelsberger Financial Advisory bought a new position in Home Depot in the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the 2nd quarter valued at approximately $47,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $395.10 on Wednesday. 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 firm has a market cap of $391.79 billion, a P/E ratio of 26.50, a P/E/G ratio of 2.78 and a beta of 1.00. The business’s 50 day moving average price is $391.17 and its 200-day moving average price is $360.80. The Home Depot, Inc. has a fifty-two week low of $276.96 and a fifty-two week high of $421.56.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Analyst Ratings Changes

HD has been the subject of a number of analyst reports. Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Evercore ISI cut their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Royal Bank of Canada dropped their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $413.48.

Home Depot 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.