Focused Wealth Management Inc Raises Position in The Home Depot, Inc. (NYSE:HD)

Focused Wealth Management Inc lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 5.8% during the third quarter, Holdings Channel reports. The fund owned 1,057 shares of the home improvement retailer’s stock after acquiring an additional 58 shares during the period. Focused Wealth Management Inc’s holdings in Home Depot were worth $428,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HD. Texas Capital Bank Wealth Management Services Inc grew its holdings in Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Empirical Finance LLC raised its holdings in Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares in the last quarter. Pegasus Asset Management Inc. lifted its position in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares during the last quarter. Commonwealth Retirement Investments LLC grew its position in shares of Home Depot by 5.5% in the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock valued at $7,146,000 after buying an additional 965 shares during the last quarter. Finally, Swedbank AB raised its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HD. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Evercore ISI lowered their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $415.26.

Home Depot Price Performance

Shares of Home Depot stock opened at $400.21 on Wednesday. The stock has a market capitalization of $397.53 billion, a P/E ratio of 26.93, a PEG ratio of 2.72 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The business’s fifty day moving average price is $393.49 and its 200 day moving average price is $362.92. The Home Depot, Inc. has a twelve month low of $286.79 and a twelve month high of $421.56.

Home Depot (NYSE:HD) 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 733.61%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the firm posted $4.65 earnings per share. Home Depot’s revenue for the quarter 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 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced 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 2.25%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 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.