Ted Buchan & Co Acquires New Position in The Home Depot, Inc. (NYSE:HD)

Ted Buchan & Co bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 949 shares of the home improvement retailer’s stock, valued at approximately $327,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Research Global Investors grew its holdings in shares of Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Home Depot by 2.5% during the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.4 %

NYSE HD opened at $405.02 on Tuesday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $405.31. The stock has a market cap of $401.62 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.71 and a beta of 1.00. The stock’s fifty day moving average price is $368.93 and its 200-day moving average price is $355.11. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS 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 firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the prior year, the firm posted $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm 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. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Loop Capital boosted their price objective on Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Oppenheimer upped their target price on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Truist Financial cut their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company presently 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.