Baker Avenue Asset Management LP Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Baker Avenue Asset Management LP lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,688 shares of the home improvement retailer’s stock after acquiring an additional 614 shares during the period. Baker Avenue Asset Management LP’s holdings in Home Depot were worth $10,814,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth $25,000. Kings Path Partners LLC acquired a new stake in Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Home Depot in the 2nd quarter worth $40,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot in the 3rd quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Home Depot in the 2nd quarter valued at about $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock traded up $6.46 during mid-day trading on Friday, hitting $405.90. 3,448,699 shares of the company traded hands, compared to its average volume of 3,078,940. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a fifty day moving average price of $395.19 and a 200-day moving average price of $363.84. The stock has a market cap of $403.18 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56.

Home Depot (NYSE:HD) last released its 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. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. TD Cowen upped their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Truist Financial upped their price objective on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday. 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 note on Monday, October 21st. Finally, Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $420.04.

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.