The Home Depot, Inc. (NYSE:HD) Shares Bought by Zhang Financial LLC

Zhang Financial LLC boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 9.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,725 shares of the home improvement retailer’s stock after purchasing an additional 401 shares during the quarter. Zhang Financial LLC’s holdings in Home Depot were worth $1,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the second quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot during the first quarter valued at about $38,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the fourth quarter valued at about $39,000. Finally, Denver PWM LLC purchased a new stake in Home Depot during the second quarter valued at about $40,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

HD traded up $1.38 during trading hours on Tuesday, hitting $416.80. The company’s stock had a trading volume of 1,510,775 shares, compared to its average volume of 3,373,500. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. 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 firm has a market capitalization of $413.30 billion, a PE ratio of 28.19, a PEG ratio of 2.88 and a beta of 1.00. The company has a 50-day simple moving average of $379.66 and a 200 day simple moving average of $357.15.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the firm earned $4.65 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 research report on Wednesday, August 14th. Truist Financial boosted their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. UBS Group boosted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $404.69.

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.