Heritage Wealth Management Inc. Purchases Shares of 3,971 The Home Depot, Inc. (NYSE:HD)

Heritage Wealth Management Inc. acquired a new position in The Home Depot, Inc. (NYSE:HD) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,971 shares of the home improvement retailer’s stock, valued at approximately $1,329,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Lazari Capital Management Inc. boosted 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 valued at $723,000 after acquiring an additional 206 shares in the last quarter. Cim LLC lifted its holdings in shares of Home Depot by 10.6% during the 2nd quarter. Cim LLC now owns 6,488 shares of the home improvement retailer’s stock valued at $2,348,000 after purchasing an additional 623 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Home Depot in the 2nd quarter worth $59,624,000. Clear Rock Advisors LLC grew its stake in Home Depot by 5.4% during the 2nd quarter. Clear Rock Advisors LLC now owns 8,221 shares of the home improvement retailer’s stock worth $2,830,000 after buying an additional 419 shares during the last quarter. Finally, Creekside Partners acquired a new position in Home Depot during the 2nd quarter valued at about $491,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price target on the stock. DA Davidson boosted their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Oppenheimer boosted their price objective 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. Finally, Piper Sandler raised their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $394.08.

Home Depot Trading Up 1.0 %

Shares of Home Depot stock opened at $409.21 on Wednesday. The firm has a 50-day simple moving average of $369.92 and a two-hundred day simple moving average of $355.36. 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 fifty-two week low of $274.26 and a fifty-two week high of $410.56. The company has a market cap of $405.78 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the firm posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared 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 of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.20%. 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.