Sunpointe LLC Has $1.15 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Sunpointe LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,835 shares of the home improvement retailer’s stock after buying an additional 53 shares during the quarter. Home Depot accounts for about 0.9% of Sunpointe LLC’s holdings, making the stock its 24th biggest holding. Sunpointe LLC’s holdings in Home Depot were worth $1,149,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Fairway Wealth LLC bought a new position in shares of Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the second quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the first quarter worth about $38,000. Denver PWM LLC bought a new position in shares of Home Depot during the second quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC raised its position in shares of Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

Shares of HD traded up $0.66 during mid-day trading on Wednesday, hitting $416.24. The stock had a trading volume of 175,470 shares, compared to its average volume of 3,368,421. The firm has a market cap of $412.75 billion, a P/E ratio of 27.89, a PEG ratio of 2.88 and a beta of 1.00. The business has a fifty day moving average price of $380.90 and a 200-day moving average price of $357.37. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. 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 announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.65 earnings per share. On average, equities research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Piper Sandler raised 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. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Finally, DA Davidson raised their price objective on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.69.

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.