Acorn Creek Capital LLC Raises Stake in The Home Depot, Inc. (NYSE:HD)

Acorn Creek Capital LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 4.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 879 shares of the home improvement retailer’s stock after buying an additional 34 shares during the period. Acorn Creek Capital LLC’s holdings in Home Depot were worth $356,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HD. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot in the 1st quarter valued at $38,000. General Partner Inc. grew its holdings in shares of Home Depot by 7.6% during the 1st quarter. General Partner Inc. now owns 9,979 shares of the home improvement retailer’s stock worth $3,828,000 after purchasing an additional 709 shares during the period. Confluence Investment Management LLC purchased a new position in shares of Home Depot during the 1st quarter worth $150,524,000. Modus Advisors LLC grew its holdings in shares of Home Depot by 2.4% during the 1st quarter. Modus Advisors LLC now owns 8,804 shares of the home improvement retailer’s stock worth $3,377,000 after purchasing an additional 208 shares during the period. Finally, Avondale Wealth Management grew its holdings in shares of Home Depot by 13.3% during the 1st quarter. Avondale Wealth Management now owns 850 shares of the home improvement retailer’s stock worth $326,000 after purchasing an additional 100 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HD. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Truist Financial increased their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday. DA Davidson increased their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Price Performance

Shares of NYSE HD opened at $415.84 on Wednesday. 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 Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The firm has a market capitalization of $412.35 billion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The stock’s 50-day simple moving average is $380.90 and its 200-day simple moving average is $357.37.

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

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.16%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Home Depot Company 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.