Discovery Capital Management LLC CT Takes $5.85 Million Position in The Home Depot, Inc. (NYSE:HD)

Discovery Capital Management LLC CT bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,000 shares of the home improvement retailer’s stock, valued at approximately $5,852,000. Home Depot makes up approximately 0.8% of Discovery Capital Management LLC CT’s portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds have also bought and sold shares of HD. Fairway Wealth LLC acquired a new stake in shares of Home Depot in the 2nd quarter valued at approximately $25,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot in the 4th quarter valued at about $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter worth about $33,000. Burkett Financial Services LLC bought a new stake in shares of Home Depot in the 4th quarter valued at about $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot in the 1st quarter valued at about $38,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on HD. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. 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 report on Tuesday, September 3rd. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Thursday, September 12th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $389.04.

Home Depot Stock Down 0.1 %

HD stock opened at $389.86 on Monday. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The business has a 50-day simple moving average of $364.95 and a 200 day simple moving average of $354.12. 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 company has a market cap of $386.59 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last issued 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. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 EPS. Sell-side 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 declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

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.