Flagship Harbor Advisors LLC Acquires Shares of 17,300 The Home Depot, Inc. (NYSE:HD)

Flagship Harbor Advisors LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 17,300 shares of the home improvement retailer’s stock, valued at approximately $7,010,000.

A number of other institutional investors also recently added to or reduced their stakes in HD. Wulff Hansen & CO. boosted its holdings in Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $513,016,000. Price T Rowe Associates Inc. MD lifted its position in shares of Home Depot by 15.0% during the 1st 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. Swedbank AB acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $301,364,000. Finally, Jennison Associates LLC lifted its position in shares of 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 acquiring an additional 569,690 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.1 %

Shares of NYSE HD opened at $401.85 on Wednesday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $421.56. The firm has a fifty day moving average of $387.35 and a 200-day moving average of $359.15. The stock has a market capitalization of $398.48 billion, a PE ratio of 26.95, a P/E/G 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 announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the company earned $4.65 EPS. The business’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared 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 was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.24%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Analysts Set New Price Targets

HD has been the subject of a number of research reports. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Wednesday, October 2nd. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, DA Davidson lifted their price objective on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Company Profile

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.