Fortis Capital Advisors LLC Boosts Position in The Home Depot, Inc. (NYSE:HD)

Fortis Capital Advisors LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,652 shares of the home improvement retailer’s stock after buying an additional 73 shares during the period. Fortis Capital Advisors LLC’s holdings in Home Depot were worth $569,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot during the 4th quarter valued at about $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the second quarter worth $33,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot in the first quarter valued at $38,000. Burkett Financial Services LLC acquired a new stake in Home Depot during the 4th quarter valued at $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot during the 4th quarter worth $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HD has been the subject of several recent analyst reports. Wedbush restated an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research note on Friday, May 10th. Citigroup dropped their price objective on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. TD Cowen reduced their target price on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Wells Fargo & Company dropped their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Finally, HSBC reduced their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.79.

Home Depot Stock Performance

Shares of HD opened at $363.76 on Wednesday. The firm has a market capitalization of $360.71 billion, a PE ratio of 24.46, a P/E/G ratio of 2.55 and a beta of 0.98. 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 firm has a 50-day moving average price of $356.09 and a 200 day moving average price of $353.98. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 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 analysts’ expectations of $42.57 billion. During the same period last year, the firm posted $4.65 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Home Depot Company 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.