Fairscale Capital LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Fairscale Capital LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 684 shares of the home improvement retailer’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. boosted its position in shares of Home Depot by 3.9% in the fourth quarter. Gilbert & Cook Inc. now owns 4,256 shares of the home improvement retailer’s stock valued at $1,475,000 after acquiring an additional 158 shares during the period. Aveo Capital Partners LLC boosted its position in shares of Home Depot by 4.8% in the fourth quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock valued at $931,000 after acquiring an additional 122 shares during the period. 9258 Wealth Management LLC boosted its position in shares of Home Depot by 4.2% in the fourth quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock valued at $4,811,000 after acquiring an additional 557 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Home Depot by 161.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock valued at $2,188,000 after acquiring an additional 3,923 shares during the period. Finally, TrinityPoint Wealth LLC boosted its position in shares of Home Depot by 4.1% in the fourth quarter. TrinityPoint Wealth LLC now owns 9,840 shares of the home improvement retailer’s stock valued at $3,410,000 after acquiring an additional 387 shares during the period. 70.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. 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 note on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Finally, DA Davidson boosted their price target 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 investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $389.04.

Home Depot Stock Performance

Home Depot stock opened at $389.86 on Friday. The business has a 50 day moving average of $364.95 and a 200-day moving average of $354.28. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. 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 company has a market capitalization of $386.59 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (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 company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.31%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

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.