Meadow Creek Wealth Advisors LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Meadow Creek Wealth Advisors LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,094 shares of the home improvement retailer’s stock after purchasing an additional 215 shares during the period. Home Depot comprises about 2.0% of Meadow Creek Wealth Advisors LLC’s investment portfolio, making the stock its 9th largest position. Meadow Creek Wealth Advisors LLC’s holdings in Home Depot were worth $2,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HD. West Paces Advisors Inc. lifted its position in shares of Home Depot by 1.3% during the 1st quarter. West Paces Advisors Inc. now owns 13,708 shares of the home improvement retailer’s stock worth $5,258,000 after buying an additional 174 shares during the period. Sound Income Strategies LLC grew its position in Home Depot by 5.7% in the first quarter. Sound Income Strategies LLC now owns 3,358 shares of the home improvement retailer’s stock valued at $1,288,000 after acquiring an additional 181 shares during the period. Disciplined Investments LLC bought a new position in shares of Home Depot during the first quarter valued at $215,000. IAM Advisory LLC lifted its holdings in shares of Home Depot by 3.8% during the first quarter. IAM Advisory LLC now owns 1,336 shares of the home improvement retailer’s stock valued at $513,000 after acquiring an additional 49 shares during the period. Finally, CFM Wealth Partners LLC boosted its stake in shares of Home Depot by 8.4% in the 1st quarter. CFM Wealth Partners LLC now owns 16,619 shares of the home improvement retailer’s stock valued at $6,375,000 after purchasing an additional 1,281 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $399.64 on Thursday. The stock has a 50-day moving average of $388.23 and a 200-day moving average of $359.43. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $421.56. The stock has a market cap of $396.29 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.88 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.

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

Home Depot Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Royal Bank of Canada reduced their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Guggenheim raised their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Finally, Oppenheimer lifted 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 investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Profile

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.