Deerfield Management Company L.P. Series C Takes Position in The Home Depot, Inc. (NYSE:HD)

Deerfield Management Company L.P. Series C bought a new stake in The Home Depot, Inc. (NYSE:HD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,923 shares of the home improvement retailer’s stock, valued at approximately $662,000.

Other institutional investors also recently modified their holdings of the company. Fairway Wealth LLC bought a new position in shares of Home Depot in the second quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new position in Home Depot in the 4th quarter worth approximately $27,000. Kings Path Partners LLC bought a new position in Home Depot in the 2nd quarter worth approximately $33,000. Burkett Financial Services LLC bought a new position in Home Depot in the 4th quarter worth approximately $38,000. Finally, A.P. Gilfoyle & Co. L.P. bought a new position in Home Depot in the 1st quarter worth approximately $38,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $391.88.

Home Depot Price Performance

Shares of NYSE HD opened at $396.74 on Friday. The firm has a market cap of $393.41 billion, a PE ratio of 26.61, a PEG ratio of 2.71 and a beta of 1.00. 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 Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $401.11. The company has a fifty day moving average price of $366.76 and a 200 day moving average price of $354.72.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 EPS. Research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.27%. Home Depot’s dividend payout ratio is 60.36%.

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.