3Chopt Investment Partners LLC Purchases New Shares in The Home Depot, Inc. (NYSE:HD)

3Chopt Investment Partners LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 3,360 shares of the home improvement retailer’s stock, valued at approximately $1,157,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Fairway Wealth LLC purchased 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 approximately $27,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter worth $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot in the first quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new position in Home Depot during the 4th quarter valued at $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on HD shares. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group upped 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. Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Truist Financial dropped their target price on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $394.08.

Home Depot Stock Performance

Shares of HD opened at $405.02 on Tuesday. The company’s 50 day moving average price is $368.93 and its 200 day moving average price is $355.11. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $405.31. The company has a market capitalization of $401.62 billion, a PE ratio of 27.16, a PEG ratio of 2.71 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 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 firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the firm earned $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

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 2.22%. Home Depot’s dividend payout ratio is currently 60.36%.

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.