Concord Wealth Partners Acquires 527 Shares of The Home Depot, Inc. (NYSE:HD)

Concord Wealth Partners increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,114 shares of the home improvement retailer’s stock after acquiring an additional 527 shares during the period. Concord Wealth Partners’ holdings in Home Depot were worth $4,908,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fairway Wealth LLC bought a new stake in Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the second quarter worth about $33,000. Denver PWM LLC purchased a new position in Home Depot in the second quarter worth about $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the second quarter worth about $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD opened at $395.10 on Wednesday. The firm has a market cap of $391.79 billion, a P/E ratio of 26.50, a PEG ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $276.96 and a 1-year high of $421.56. The company has a 50 day simple moving average of $391.17 and a two-hundred day simple moving average of $360.80. 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 posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business 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%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.28%. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent analyst reports. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price for the company. Stifel Nicolaus decreased their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. 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 report on Friday, October 4th. 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. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $413.48.

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.