Moneywise Inc. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Moneywise Inc. purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 500 shares of the home improvement retailer’s stock, valued at approximately $203,000.

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

Home Depot Stock Down 1.1 %

Shares of HD stock opened at $401.85 on Wednesday. The company’s fifty day simple moving average is $387.35 and its two-hundred day simple moving average is $359.15. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $421.56. The stock has a market cap of $398.48 billion, a P/E ratio of 26.95, a PEG ratio of 2.88 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts predict 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. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. DA Davidson raised their price target on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Evercore ISI dropped their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Guggenheim boosted their target price on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Truist Financial raised their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Oppenheimer upped their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $410.67.

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.