Horrell Capital Management Inc. Has $10.77 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Horrell Capital Management Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HDFree Report) by 10.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,581 shares of the home improvement retailer’s stock after selling 2,980 shares during the quarter. Home Depot comprises approximately 3.2% of Horrell Capital Management Inc.’s holdings, making the stock its 6th largest position. Horrell Capital Management Inc.’s holdings in Home Depot were worth $10,771,000 as of its most recent SEC filing.

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

Home Depot Stock Performance

HD stock opened at $392.60 on Thursday. The Home Depot, Inc. has a 1-year low of $281.61 and a 1-year high of $421.56. The business has a 50-day moving average price of $391.61 and a 200 day moving average price of $361.03. The company has a market capitalization of $389.31 billion, a P/E ratio of 26.33, a PEG ratio of 2.78 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HDGet Free Report) last posted its quarterly earnings results 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 net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the previous year, the business posted $4.65 EPS. The company’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts forecast 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. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.29%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HD shares. Evercore ISI lowered 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. Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Piper Sandler boosted their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Finally, Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $413.48.

Read Our Latest Report on HD

About Home Depot

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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