The Home Depot, Inc. (NYSE:HD) Stake Lifted by Royal Fund Management LLC

Royal Fund Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 191.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,836 shares of the home improvement retailer’s stock after buying an additional 3,177 shares during the quarter. Royal Fund Management LLC’s holdings in Home Depot were worth $1,960,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of HD. Wulff Hansen & CO. boosted its position in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after acquiring an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd acquired a new position in Home Depot during the 1st quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD raised its position in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Swedbank AB acquired a new stake in shares of Home Depot in the 1st quarter worth approximately $301,364,000. Finally, Jennison Associates LLC increased its stake in shares of Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.5 %

Shares of NYSE:HD traded up $1.93 during midday trading on Wednesday, hitting $416.11. 415,298 shares of the stock were exchanged, compared to its average volume of 3,378,239. The company has a market capitalization of $412.62 billion, a PE ratio of 27.78, a P/E/G ratio of 2.71 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $420.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The business’s fifty day simple moving average is $375.22 and its two-hundred day simple moving average is $356.30.

Home Depot (NYSE:HD) last issued its 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. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.65 EPS. As a group, 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. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HD. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Stifel Nicolaus decreased their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Piper Sandler boosted their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $402.38.

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.