Houlihan Financial Resource Group Ltd. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Houlihan Financial Resource Group Ltd. purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,168 shares of the home improvement retailer’s stock, valued at approximately $473,000.

Other hedge funds have also made changes to their positions in the company. WFA Asset Management Corp increased its holdings in shares of Home Depot by 10.7% during the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after buying an additional 135 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in shares of Home Depot by 5.8% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after purchasing an additional 623 shares during the period. Empowered Funds LLC lifted its stake in shares of Home Depot by 42.9% in the 1st quarter. Empowered Funds LLC now owns 40,777 shares of the home improvement retailer’s stock valued at $15,642,000 after purchasing an additional 12,239 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its holdings in shares of Home Depot by 1.1% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 52,227 shares of the home improvement retailer’s stock worth $20,035,000 after purchasing an additional 581 shares during the period. Finally, Atomi Financial Group Inc. increased its position in Home Depot by 33.6% during the 1st quarter. Atomi Financial Group Inc. now owns 5,918 shares of the home improvement retailer’s stock worth $2,270,000 after purchasing an additional 1,490 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HD. Morgan Stanley boosted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Finally, Oppenheimer boosted their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $420.04.

Home Depot Stock Performance

Shares of NYSE HD opened at $405.90 on Friday. The stock has a market capitalization of $403.18 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.69 and a beta of 1.01. The firm’s 50-day moving average price is $395.19 and its two-hundred day moving average price is $363.84. The Home Depot, Inc. has a 52-week low of $286.79 and a 52-week high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. 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 posted $4.65 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.22%. Home Depot’s dividend payout ratio is presently 60.57%.

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.