Orca Investment Management LLC Raises Position in The Home Depot, Inc. (NYSE:HD)

Orca Investment Management LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,118 shares of the home improvement retailer’s stock after purchasing an additional 220 shares during the quarter. Home Depot makes up about 1.9% of Orca Investment Management LLC’s investment portfolio, making the stock its 20th biggest position. Orca Investment Management LLC’s holdings in Home Depot were worth $2,074,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Abacus Wealth Partners LLC lifted its holdings in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares during the period. Ruedi Wealth Management Inc. raised its holdings in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC raised its holdings in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the period. Finally, Talisman Wealth Advisors LLC raised its holdings in Home Depot by 1.2% in the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE:HD opened at $411.90 on Monday. The firm has a 50 day moving average of $378.34 and a 200-day moving average of $356.92. The stock has a market capitalization of $408.45 billion, a PE ratio of 27.63, a PEG ratio of 2.88 and a beta of 1.00. 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 $420.03.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the firm posted $4.65 EPS. The firm’s revenue was up .6% on a year-over-year basis. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HD shares. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Stifel Nicolaus cut their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Evercore ISI cut their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. Finally, Truist Financial cut their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $402.38.

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.