The Home Depot, Inc. (NYSE:HD) Shares Acquired by 49 Wealth Management LLC

49 Wealth Management LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 15.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,124 shares of the home improvement retailer’s stock after acquiring an additional 154 shares during the quarter. 49 Wealth Management LLC’s holdings in Home Depot were worth $456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Abacus Wealth Partners LLC boosted its holdings in shares of Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Capital City Trust Co. FL grew its position in shares of Home Depot by 1.1% in the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after purchasing an additional 26 shares during the last quarter. Ruedi Wealth Management Inc. increased its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. Finally, Acorn Creek Capital LLC lifted its position in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Oppenheimer raised their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Morgan Stanley upped their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. UBS Group boosted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Evercore ISI increased their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $426.00.

Insider Activity at Home Depot

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

Home Depot Stock Up 2.5 %

Shares of NYSE:HD opened at $410.18 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $407.43 billion, a P/E ratio of 27.87, a P/E/G ratio of 2.83 and a beta of 1.01. The Home Depot, Inc. has a 12 month low of $306.48 and a 12 month high of $421.56. The company’s 50-day moving average price is $402.43 and its two-hundred day moving average price is $368.30.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the firm earned $3.81 earnings per share. Home Depot’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

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.