JCIC Asset Management Inc. Grows Stake in The Home Depot, Inc. (NYSE:HD)

JCIC Asset Management Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,634 shares of the home improvement retailer’s stock after purchasing an additional 105 shares during the quarter. Home Depot accounts for 2.5% of JCIC Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. JCIC Asset Management Inc.’s holdings in Home Depot were worth $5,930,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the second quarter valued at about $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC purchased a new stake in Home Depot in the 2nd quarter valued at approximately $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the 3rd quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter worth $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HD. Truist Financial raised their price target on shares of Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday. They issued a “market perform” rating and a $451.00 target price for the company. Royal Bank of Canada cut their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. UBS Group lifted their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. 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’s stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

Home Depot Price Performance

HD stock opened at $402.40 on Friday. The company has a market capitalization of $399.03 billion, a PE ratio of 26.99, a P/E/G ratio of 2.88 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 stock’s 50 day moving average is $388.23 and its two-hundred day moving average is $359.43. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly 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 net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the previous year, the firm earned $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Analysts predict 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 declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given 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 2.24%. Home Depot’s payout ratio is 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.