Highland Capital Management LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Highland Capital Management LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 8.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 16,230 shares of the home improvement retailer’s stock after purchasing an additional 1,315 shares during the quarter. Highland Capital Management LLC’s holdings in Home Depot were worth $6,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in HD. KRS Capital Management LLC increased its stake in shares of Home Depot by 4.3% during the first quarter. KRS Capital Management LLC now owns 3,942 shares of the home improvement retailer’s stock valued at $1,512,000 after purchasing an additional 164 shares in the last quarter. OneAscent Wealth Management LLC grew its stake in shares of Home Depot by 111.4% in the 1st quarter. OneAscent Wealth Management LLC now owns 1,947 shares of the home improvement retailer’s stock worth $747,000 after buying an additional 1,026 shares during the last quarter. Webster Bank N. A. increased its position in Home Depot by 0.7% during the 1st quarter. Webster Bank N. A. now owns 20,538 shares of the home improvement retailer’s stock valued at $7,878,000 after buying an additional 139 shares in the last quarter. OneAscent Financial Services LLC raised its stake in Home Depot by 28.1% during the first quarter. OneAscent Financial Services LLC now owns 5,441 shares of the home improvement retailer’s stock valued at $2,087,000 after buying an additional 1,193 shares during the last quarter. Finally, Norris Perne & French LLP MI boosted its holdings in Home Depot by 0.6% in the first quarter. Norris Perne & French LLP MI now owns 52,865 shares of the home improvement retailer’s stock worth $20,279,000 after acquiring an additional 319 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Morgan Stanley boosted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $412.00.

Home Depot Trading Down 0.9 %

Shares of HD stock opened at $398.91 on Friday. The company has a market cap of $396.23 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. 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 stock’s 50 day simple moving average is $389.81 and its two-hundred day simple moving average is $359.98. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (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 during the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the company earned $4.65 earnings per share. Home Depot’s revenue was up .6% on a year-over-year basis. Research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.26%. Home Depot’s payout ratio is 60.57%.

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.