MidWestOne Financial Group Inc. Acquires 674 Shares of The Home Depot, Inc. (NYSE:HD)

MidWestOne Financial Group Inc. raised its position in The Home Depot, Inc. (NYSE:HD) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,665 shares of the home improvement retailer’s stock after acquiring an additional 674 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Home Depot were worth $3,327,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Capital Research Global Investors increased its position in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the period. Fisher Asset Management LLC increased its position in shares of Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock valued at $3,046,485,000 after buying an additional 184,480 shares during the period. Legal & General Group Plc increased its position in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after buying an additional 100,139 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Home Depot by 15.0% during the first 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 buying an additional 971,833 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after buying an additional 138,396 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HD. Truist Financial reduced their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. UBS Group boosted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Loop Capital raised their target price on shares of Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Finally, DA Davidson boosted their price target 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $391.88.

Home Depot Stock Performance

Shares of HD opened at $399.44 on Friday. The business’s fifty day simple moving average is $368.10 and its two-hundred day simple moving average is $355.21. 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 Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $403.54. The company has a market cap of $396.09 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly 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. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.65 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.25%. Home Depot’s payout ratio is 60.36%.

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.