1,467 Shares in The Home Depot, Inc. (NYSE:HD) Purchased by Brightwater Advisory LLC

Brightwater Advisory LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,467 shares of the home improvement retailer’s stock, valued at approximately $505,000.

Several other large investors have also modified their holdings of HD. Heritage Wealth Management Inc. purchased a new position in Home Depot in the 2nd quarter worth about $1,329,000. Lazari Capital Management Inc. grew its stake in Home Depot by 10.9% in the second quarter. Lazari Capital Management Inc. now owns 2,101 shares of the home improvement retailer’s stock worth $723,000 after purchasing an additional 206 shares in the last quarter. Cim LLC lifted its holdings in shares of Home Depot by 10.6% in the 2nd quarter. Cim LLC now owns 6,488 shares of the home improvement retailer’s stock worth $2,348,000 after buying an additional 623 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Home Depot during the 2nd quarter worth $59,624,000. Finally, Clear Rock Advisors LLC increased its stake in shares of Home Depot by 5.4% during the second quarter. Clear Rock Advisors LLC now owns 8,221 shares of the home improvement retailer’s stock valued at $2,830,000 after buying an additional 419 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $409.21 on Wednesday. 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 Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $410.56. The company has a market cap of $405.78 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The stock’s 50 day simple moving average is $369.92 and its 200-day simple moving average is $355.36.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 earnings per share. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. DA Davidson increased their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Evercore ISI cut their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $394.08.

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.