Clear Rock Advisors LLC Has $2.83 Million Position in The Home Depot, Inc. (NYSE:HD)

Clear Rock Advisors LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 5.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 8,221 shares of the home improvement retailer’s stock after purchasing an additional 419 shares during the period. Home Depot makes up approximately 1.2% of Clear Rock Advisors LLC’s holdings, making the stock its 28th largest position. Clear Rock Advisors LLC’s holdings in Home Depot were worth $2,830,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. lifted its stake in shares of Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after buying an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd acquired a new stake in shares of Home Depot during the 1st quarter worth approximately $513,016,000. Capital Research Global Investors increased its position 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 valued at $5,117,016,000 after purchasing an additional 992,444 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares in the last quarter. Finally, Swedbank AB bought a new position in Home Depot in the first quarter worth $301,364,000. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HD. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Piper Sandler raised their price target on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday. Stifel Nicolaus lowered their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. Finally, Loop Capital upped their price target on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $394.08.

Home Depot Stock Performance

Shares of Home Depot stock opened at $409.21 on Wednesday. The stock’s fifty day simple moving average is $369.92 and its 200 day simple moving average is $355.36. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company has a market capitalization of $405.78 billion, a PE ratio of 27.45, a PEG ratio of 2.71 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $410.56.

Home Depot (NYSE:HD) last released its quarterly 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 company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the firm posted $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. On average, research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

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