WCG Wealth Advisors LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

WCG Wealth Advisors LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,208 shares of the home improvement retailer’s stock, valued at approximately $3,858,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Gilbert & Cook Inc. boosted its holdings in 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 purchasing an additional 158 shares during the period. Aveo Capital Partners LLC boosted its stake in shares of Home Depot by 4.8% in the 4th quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock valued at $931,000 after buying an additional 122 shares during the period. 9258 Wealth Management LLC boosted its stake in shares of Home Depot by 4.2% in the 4th quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock valued at $4,811,000 after buying an additional 557 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Home Depot by 161.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock worth $2,188,000 after buying an additional 3,923 shares in the last quarter. Finally, TrinityPoint Wealth LLC increased its stake in shares of Home Depot by 4.1% during the fourth quarter. TrinityPoint Wealth LLC now owns 9,840 shares of the home improvement retailer’s stock worth $3,410,000 after buying an additional 387 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HD shares. Truist Financial decreased their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Loop Capital increased their target price on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday. Stifel Nicolaus decreased their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. raised their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. One research 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. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $389.04.

Home Depot Stock Up 0.2 %

HD opened at $384.13 on Thursday. 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 $380.91 billion, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The business has a 50-day moving average of $363.62 and a 200-day moving average of $354.13. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results 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 net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The business’s quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.34%. Home Depot’s payout ratio is 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.