Penn Davis Mcfarland Inc. Takes $425,000 Position in The Home Depot, Inc. (NYSE:HD)

Penn Davis Mcfarland Inc. acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,048 shares of the home improvement retailer’s stock, valued at approximately $425,000.

A number of other large investors have also added to or reduced their stakes in HD. One Degree Advisors Inc acquired a new position in Home Depot in the 3rd quarter valued at approximately $200,000. ACT Advisors LLC. bought a new position in Home Depot during the 3rd quarter worth $228,000. Vest Financial LLC grew its position in shares of Home Depot by 163.2% in the 3rd quarter. Vest Financial LLC now owns 4,466 shares of the home improvement retailer’s stock valued at $1,810,000 after buying an additional 2,769 shares during the last quarter. Stegent Equity Advisors Inc. increased its stake in shares of Home Depot by 9.5% in the third quarter. Stegent Equity Advisors Inc. now owns 821 shares of the home improvement retailer’s stock valued at $333,000 after buying an additional 71 shares during the period. Finally, West Branch Capital LLC raised its position in shares of Home Depot by 2.6% during the third quarter. West Branch Capital LLC now owns 12,241 shares of the home improvement retailer’s stock worth $4,960,000 after acquiring an additional 313 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the topic of several analyst reports. UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Truist Financial increased their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler boosted their price objective on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $404.69.

Home Depot Price Performance

Shares of NYSE:HD opened at $415.00 on Monday. The company has a market capitalization of $411.52 billion, a P/E ratio of 27.83, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The company’s 50-day moving average is $385.10 and its 200 day moving average is $358.49.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the business posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 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.