Legacy Financial Strategies LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Legacy Financial Strategies LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 13.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 735 shares of the home improvement retailer’s stock after purchasing an additional 86 shares during the period. Legacy Financial Strategies LLC’s holdings in Home Depot were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new position in shares of Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the 2nd quarter valued at approximately $33,000. Denver PWM LLC acquired a new position in shares of Home Depot in the second quarter worth $40,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot in the second quarter worth $47,000. Finally, Quarry LP increased its position in shares of Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.1 %

Shares of Home Depot stock opened at $415.00 on Friday. The company’s fifty day moving average is $385.10 and its two-hundred day moving average is $358.50. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. 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 company has a market capitalization of $411.52 billion, a P/E ratio of 27.83, a PEG ratio of 2.88 and a beta of 1.00.

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. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted $4.65 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business 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. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Evercore ISI lowered their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their target price for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Royal Bank of Canada decreased their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, DA Davidson increased their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. One 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. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $404.69.

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.