Focused Wealth Management Inc Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Focused Wealth Management Inc increased its position in The Home Depot, Inc. (NYSE:HD) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,057 shares of the home improvement retailer’s stock after acquiring an additional 58 shares during the quarter. Focused Wealth Management Inc’s holdings in Home Depot were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fairway Wealth LLC bought a new stake in Home Depot during the second quarter worth approximately $25,000. Kings Path Partners LLC purchased a new stake in Home Depot in the 2nd quarter worth about $33,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the third quarter worth about $46,000. Denver PWM LLC purchased a new position in shares of Home Depot during the second quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HD. Melius Research assumed coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Finally, Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $415.26.

Home Depot Stock Performance

NYSE HD opened at $400.21 on Wednesday. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two week high of $421.56. The firm has a market capitalization of $397.53 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. The stock’s fifty day moving average is $393.49 and its two-hundred day moving average is $362.92. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.65 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued 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 2.25%. Home Depot’s dividend payout ratio is currently 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.