The Home Depot, Inc. (NYSE:HD) Stake Raised by Portside Wealth Group LLC

Portside Wealth Group LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,157 shares of the home improvement retailer’s stock after purchasing an additional 560 shares during the period. Portside Wealth Group LLC’s holdings in Home Depot were worth $2,900,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of Home Depot during the 2nd quarter worth $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the second quarter valued at $33,000. Denver PWM LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot in the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 2.8 %

Shares of HD opened at $399.41 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 stock has a market cap of $396.73 billion, a PE ratio of 26.88, a PEG ratio of 2.74 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The stock has a 50 day simple moving average of $393.80 and a 200-day simple moving average of $363.10.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion for 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 733.61%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Oppenheimer upped their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Morgan Stanley boosted their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. Finally, Truist Financial lifted their target price on Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $416.52.

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.