Kelly Financial Services LLC Raises Stake in The Home Depot, Inc. (NYSE:HD)

Kelly Financial Services LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 10.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,491 shares of the home improvement retailer’s stock after purchasing an additional 143 shares during the period. Kelly Financial Services LLC’s holdings in Home Depot were worth $604,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HD. Fisher Asset Management LLC boosted its holdings in shares of Home Depot by 2.1% in the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock valued at $3,046,485,000 after acquiring an additional 184,480 shares in the last quarter. Legal & General Group Plc raised its position in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in 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 worth $2,853,143,000 after acquiring an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. raised its position in Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares during the last quarter. Finally, Jennison Associates LLC raised its position in 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 worth $1,886,271,000 after acquiring an additional 569,690 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $416.07 on Thursday. The firm has a 50-day moving average price of $376.18 and a 200 day moving average price of $356.72. The firm has a market capitalization of $412.58 billion, a PE ratio of 27.91, a P/E/G ratio of 2.71 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. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $420.03.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating 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%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HD. UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the stock from $360.00 to $460.00 in a research report on Wednesday. Oppenheimer boosted their price objective on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Piper Sandler boosted 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, September 30th. Finally, Guggenheim boosted their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus 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.