Brightwater Advisory LLC Makes New $505,000 Investment in The Home Depot, Inc. (NYSE:HD)

Brightwater Advisory LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,467 shares of the home improvement retailer’s stock, valued at approximately $505,000.

A number of other hedge funds have also modified their holdings of HD. J. W. Coons Advisors LLC raised its holdings in shares of Home Depot by 1.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 7,345 shares of the home improvement retailer’s stock valued at $2,546,000 after buying an additional 71 shares during the period. Carmignac Gestion increased its stake in Home Depot by 41.1% during the fourth quarter. Carmignac Gestion now owns 3,234 shares of the home improvement retailer’s stock worth $1,121,000 after purchasing an additional 942 shares during the period. Fairview Capital Investment Management LLC purchased a new position in shares of Home Depot in the fourth quarter valued at approximately $278,000. Capital International Sarl grew its holdings in shares of Home Depot by 12.1% in the fourth quarter. Capital International Sarl now owns 69,195 shares of the home improvement retailer’s stock valued at $23,980,000 after purchasing an additional 7,446 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.0 %

Shares of HD opened at $409.21 on Wednesday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $410.56. The stock has a market cap of $405.78 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The firm has a 50 day simple moving average of $369.92 and a 200-day simple moving average of $355.36.

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

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s payout ratio is currently 60.36%.

Analysts Set New Price Targets

Several research firms have commented on HD. 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 target for the company. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Finally, Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $394.08.

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.