The Home Depot, Inc. (NYSE:HD) Shares Purchased by Providence Capital Advisors LLC

Providence Capital Advisors LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,396 shares of the home improvement retailer’s stock after buying an additional 122 shares during the quarter. Home Depot comprises about 1.6% of Providence Capital Advisors LLC’s portfolio, making the stock its 13th biggest holding. Providence Capital Advisors LLC’s holdings in Home Depot were worth $7,366,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new position in Home Depot in the second quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the second quarter worth about $33,000. Burkett Financial Services LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot during the first quarter worth about $38,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $391.96 on Tuesday. 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 stock has a fifty day moving average price of $365.62 and a 200 day moving average price of $354.23. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a market cap of $388.67 billion, a PE ratio of 26.29, a P/E/G ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analysts Set New Price Targets

HD has been the topic of several research reports. Melius Research initiated coverage on shares of Home Depot in a research report on Monday. They set a “buy” rating and a $420.00 price target on the stock. Evercore ISI reduced their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Stifel Nicolaus cut their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Finally, Truist Financial cut their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $390.28.

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.