The Home Depot, Inc. (NYSE:HD) Shares Bought by Blossom Wealth Management

Blossom Wealth Management increased its stake in The Home Depot, Inc. (NYSE:HD) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,114 shares of the home improvement retailer’s stock after buying an additional 45 shares during the quarter. Home Depot comprises 1.6% of Blossom Wealth Management’s portfolio, making the stock its 16th largest position. Blossom Wealth Management’s holdings in Home Depot were worth $728,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of HD. Bare Financial Services Inc purchased a new position in Home Depot in the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $27,000. Burkett Financial Services LLC purchased a new position in Home Depot in the fourth quarter valued at about $38,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot during the 1st quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot during the 4th quarter worth approximately $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HD. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group raised their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Truist Financial cut their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Finally, Jefferies Financial Group began coverage on Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Stock Performance

Home Depot stock traded up $2.01 during mid-day trading on Monday, hitting $364.07. 769,308 shares of the company’s stock traded hands, compared to its average volume of 3,417,369. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a 50 day moving average price of $350.74 and a 200 day moving average price of $353.23. The company has a market cap of $361.02 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 9.79% and a return on equity of 1,056.67%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $4.65 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.