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

MBA Advisors LLC boosted its position in The Home Depot, Inc. (NYSE:HD) by 1.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,473 shares of the home improvement retailer’s stock after purchasing an additional 44 shares during the period. MBA Advisors LLC’s holdings in Home Depot were worth $1,002,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. International Assets Investment Management LLC lifted its position in Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the last quarter. Legal & General Group Plc raised its holdings in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after buying an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of Home Depot by 13.1% in the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.9 %

Shares of Home Depot stock opened at $395.10 on Wednesday. The company has a 50-day simple moving average of $391.17 and a two-hundred day simple moving average of $360.80. The stock has a market capitalization of $391.79 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $276.96 and a 52-week high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $4.65 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.28%. Home Depot’s payout ratio is 60.36%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. Piper Sandler lifted their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Sanford C. Bernstein began coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $413.48.

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.