The Home Depot, Inc. (NYSE:HD) Stock Position Boosted by Cross Staff Investments Inc

Cross Staff Investments Inc raised its holdings in The Home Depot, Inc. (NYSE:HD) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,702 shares of the home improvement retailer’s stock after buying an additional 49 shares during the quarter. Home Depot makes up approximately 1.8% of Cross Staff Investments Inc’s holdings, making the stock its 10th largest holding. Cross Staff Investments Inc’s holdings in Home Depot were worth $2,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. West Michigan Advisors LLC grew its stake in shares of Home Depot by 8.3% during the 3rd quarter. West Michigan Advisors LLC now owns 5,979 shares of the home improvement retailer’s stock valued at $2,422,000 after buying an additional 456 shares during the period. Nicholson Wealth Management Group LLC purchased a new stake in Home Depot during the third quarter valued at about $1,419,000. Legacy Capital Group California Inc. raised its holdings in shares of Home Depot by 11.3% in the 3rd quarter. Legacy Capital Group California Inc. now owns 1,196 shares of the home improvement retailer’s stock worth $485,000 after purchasing an additional 121 shares during the period. Ergawealth Advisors Inc. acquired a new position in shares of Home Depot in the 3rd quarter valued at about $206,000. Finally, Dakota Wealth Management grew its holdings in shares of Home Depot by 62.2% during the 3rd quarter. Dakota Wealth Management now owns 66,988 shares of the home improvement retailer’s stock worth $27,143,000 after purchasing an additional 25,681 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $398.91 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 company has a market capitalization of $396.23 billion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $421.56. The business has a 50 day simple moving average of $389.81 and a 200-day simple moving average of $359.98.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.26%. Home Depot’s payout ratio is currently 60.57%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Melius Research initiated 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. Evercore ISI reduced their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a report on Wednesday, October 2nd. Oppenheimer boosted their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus dropped their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One investment 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $412.00.

Home Depot 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.