Covenant Partners LLC Has $1.87 Million Position in The Home Depot, Inc. (NYSE:HD)

Covenant Partners LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 5.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,620 shares of the home improvement retailer’s stock after purchasing an additional 252 shares during the quarter. Home Depot comprises about 0.5% of Covenant Partners LLC’s portfolio, making the stock its 22nd biggest position. Covenant Partners LLC’s holdings in Home Depot were worth $1,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the 2nd quarter valued at about $33,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the 3rd quarter valued at about $46,000. Denver PWM LLC bought a new stake in Home Depot in the 2nd quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC increased its position in Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.9 %

HD opened at $398.91 on Monday. The stock has a market cap of $396.23 billion, a PE ratio of 26.84, a P/E/G ratio of 2.78 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. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $421.56. The business’s fifty day simple moving average is $389.81 and its 200 day simple moving average is $360.04.

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 analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the firm earned $4.65 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid 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 dividend yield of 2.26%. Home Depot’s dividend payout ratio (DPR) is currently 60.57%.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Royal Bank of Canada dropped their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Evercore ISI dropped their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Oppenheimer upped their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Finally, Sanford C. Bernstein started coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $412.00.

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.