Chicago Capital LLC Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Chicago Capital LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,655 shares of the home improvement retailer’s stock after buying an additional 3,005 shares during the quarter. Chicago Capital LLC’s holdings in Home Depot were worth $16,060,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot in the 4th quarter worth about $27,000. Kings Path Partners LLC bought a new position in Home Depot during the 2nd quarter worth $33,000. Burkett Financial Services LLC acquired a new position in shares of Home Depot during the fourth quarter valued at $38,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot in the 1st quarter worth about $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Home Depot in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD traded down $1.80 during mid-day trading on Friday, reaching $360.05. 2,228,832 shares of the company were exchanged, compared to its average volume of 3,406,975. The stock has a market capitalization of $357.03 billion, a PE ratio of 24.15, a PEG ratio of 2.55 and a beta of 0.98. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company’s 50 day moving average price is $357.27 and its 200 day moving average price is $354.10.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the prior year, the firm earned $4.65 earnings per share. Home Depot’s revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. TD Cowen decreased their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. Truist Financial decreased their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. DA Davidson lifted their price objective on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday. Royal Bank of Canada decreased their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Finally, Loop Capital decreased their target price on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $387.79.

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.