Evernest Financial Advisors LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Evernest Financial Advisors LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 28.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,337 shares of the home improvement retailer’s stock after acquiring an additional 967 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Home Depot were worth $1,757,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HD. Fairway Wealth LLC bought a new position in Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the 2nd quarter valued at $33,000. Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter valued at $40,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot in the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot in the second quarter worth $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 2.0 %

Shares of HD stock opened at $406.52 on Tuesday. The stock’s 50-day moving average price is $386.31 and its 200-day moving average price is $358.83. 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 capitalization of $403.11 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) 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 analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.65 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.21%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analyst Ratings Changes

A number of research firms have weighed in on HD. Oppenheimer increased their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, DA Davidson upped their price objective on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $409.12.

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.