Cadent Capital Advisors LLC Takes $676,000 Position in The Home Depot, Inc. (NYSE:HD)

Cadent Capital Advisors LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,669 shares of the home improvement retailer’s stock, valued at approximately $676,000.

Other institutional investors and hedge funds have also modified their holdings of the company. AA Financial Advisors LLC grew its stake in shares of Home Depot by 3.0% during the third quarter. AA Financial Advisors LLC now owns 1,534 shares of the home improvement retailer’s stock worth $621,000 after purchasing an additional 44 shares during the period. Chicago Capital LLC lifted its stake in Home Depot by 5.9% in the third quarter. Chicago Capital LLC now owns 49,406 shares of the home improvement retailer’s stock valued at $20,019,000 after buying an additional 2,751 shares during the period. KFA Private Wealth Group LLC bought a new position in Home Depot during the third quarter worth about $225,000. Key Client Fiduciary Advisors LLC grew its position in shares of Home Depot by 5.2% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 4,434 shares of the home improvement retailer’s stock worth $1,797,000 after buying an additional 220 shares during the period. Finally, Cahaba Wealth Management Inc. increased its stake in shares of Home Depot by 4.5% in the 3rd quarter. Cahaba Wealth Management Inc. now owns 3,621 shares of the home improvement retailer’s stock valued at $1,467,000 after acquiring an additional 157 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

NYSE:HD opened at $415.00 on Friday. The stock has a market capitalization of $411.52 billion, a PE ratio of 27.83, a P/E/G ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $421.56. The firm has a fifty day simple moving average of $385.10 and a 200 day simple moving average of $358.50. The company has a current ratio of 1.15, a quick ratio of 0.33 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 for the quarter, topping 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 business earned $4.65 EPS. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid 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 2.17%. Home Depot’s dividend payout ratio is currently 60.36%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. UBS Group boosted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Oppenheimer raised their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their target price 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, Royal Bank of Canada lowered 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $404.69.

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.