The Home Depot, Inc. (NYSE:HD) Stock Position Raised by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 15.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,897 shares of the home improvement retailer’s stock after purchasing an additional 932 shares during the quarter. Home Depot comprises 0.3% of Moss Adams Wealth Advisors LLC’s portfolio, making the stock its 27th largest position. Moss Adams Wealth Advisors LLC’s holdings in Home Depot were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Legal & General Group Plc raised its position in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after buying an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares during the period. Ameriprise Financial Inc. lifted its position in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares during the period. Jennison Associates LLC boosted its stake in Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after purchasing an additional 569,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after purchasing an additional 333,312 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Stifel Nicolaus lowered their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Guggenheim increased their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. Finally, Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Price Performance

Shares of HD opened at $415.03 on Friday. The business has a 50-day simple moving average of $385.10 and a two-hundred day simple moving average of $358.53. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $421.56. The stock has a market cap of $411.55 billion, a PE ratio of 27.84, a PEG ratio of 2.88 and a beta of 1.00. 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 posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating 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 business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the business posted $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm 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 annualized dividend and a dividend yield of 2.17%. Home Depot’s payout ratio is 60.36%.

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.