Financial Management Network Inc. Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Financial Management Network Inc. boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 1.5% during the 3rd quarter, Holdings Channel reports. The firm owned 5,287 shares of the home improvement retailer’s stock after acquiring an additional 77 shares during the period. Financial Management Network Inc.’s holdings in Home Depot were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Abacus Wealth Partners LLC grew its position in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. increased its position in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC raised its stake in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares in the last quarter. Finally, Talisman Wealth Advisors LLC lifted its position in Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.9 %

HD opened at $398.91 on Friday. The stock has a market cap of $396.23 billion, a PE ratio of 26.84, a PEG ratio of 2.78 and a beta of 1.00. The business has a 50 day moving average of $389.81 and a 200-day moving average of $359.98. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $421.56. 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 announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.65 EPS. Equities 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 announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 dividend yield of 2.26%. Home Depot’s payout ratio is 60.57%.

Analyst Upgrades and Downgrades

HD has been the topic of several research reports. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $412.00.

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.