Axxcess Wealth Management LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Axxcess Wealth Management LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,362 shares of the home improvement retailer’s stock after purchasing an additional 4,292 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Home Depot were worth $19,597,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HD. Fairway Wealth LLC purchased a new stake in Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC purchased a new stake in Home Depot in the second quarter valued at about $33,000. Denver PWM LLC purchased a new stake in Home Depot in the second quarter valued at about $40,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the second quarter valued at about $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on HD shares. Piper Sandler increased their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley increased their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Melius Research assumed coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, DA Davidson increased their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.04.

Home Depot Stock Up 1.6 %

Shares of HD opened at $405.90 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The stock’s 50 day moving average is $395.19 and its two-hundred day moving average is $363.84. The firm has a market cap of $403.18 billion, a P/E ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the company earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is presently 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.