Fairscale Capital LLC Buys New Position in The Home Depot, Inc. (NYSE:HD)

Fairscale Capital LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 684 shares of the home improvement retailer’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. 1832 Asset Management L.P. boosted its holdings in shares of Home Depot by 1.3% during the 2nd quarter. 1832 Asset Management L.P. now owns 730,441 shares of the home improvement retailer’s stock worth $251,447,000 after buying an additional 9,159 shares in the last quarter. Frank Rimerman Advisors LLC boosted its holdings in shares of Home Depot by 16,788.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 13,004 shares of the home improvement retailer’s stock worth $4,476,000 after buying an additional 12,927 shares in the last quarter. Prospector Partners LLC boosted its holdings in shares of Home Depot by 0.7% during the 2nd quarter. Prospector Partners LLC now owns 32,369 shares of the home improvement retailer’s stock worth $11,143,000 after buying an additional 240 shares in the last quarter. ProShare Advisors LLC boosted its holdings in shares of Home Depot by 8.6% during the 2nd quarter. ProShare Advisors LLC now owns 245,701 shares of the home improvement retailer’s stock worth $84,580,000 after buying an additional 19,360 shares in the last quarter. Finally, Merriman Wealth Management LLC boosted its holdings in shares of Home Depot by 3.8% during the 2nd quarter. Merriman Wealth Management LLC now owns 2,084 shares of the home improvement retailer’s stock worth $718,000 after buying an additional 77 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.1 %

Shares of Home Depot stock opened at $389.86 on Friday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The firm has a market cap of $386.59 billion, a PE ratio of 26.15, a P/E/G ratio of 2.57 and a beta of 1.00. The stock has a fifty day moving average price of $364.95 and a 200-day moving average price of $354.28. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last announced its earnings results 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 return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the firm posted $4.65 EPS. The business’s revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared 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 of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.31%. Home Depot’s payout ratio is 60.36%.

Analyst Ratings Changes

A number of brokerages recently issued reports on HD. Stifel Nicolaus cut 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. Truist Financial cut their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Finally, Royal Bank of Canada cut their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $389.04.

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.