Sugarloaf Wealth Management LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Sugarloaf Wealth Management LLC raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,337 shares of the home improvement retailer’s stock after purchasing an additional 409 shares during the period. Home Depot makes up about 1.3% of Sugarloaf Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. Sugarloaf Wealth Management LLC’s holdings in Home Depot were worth $7,025,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HD. Wulff Hansen & CO. boosted its stake in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot during the first quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD grew its holdings in 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 valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Swedbank AB bought a new stake in Home Depot during the first quarter valued at about $301,364,000. Finally, Jennison Associates LLC grew its holdings in Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after purchasing an additional 569,690 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Oppenheimer boosted their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. DA Davidson boosted their price objective on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Finally, UBS Group boosted their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $398.54.

Home Depot Trading Up 1.0 %

HD stock traded up $4.07 during midday trading on Tuesday, reaching $412.13. 1,324,519 shares of the company traded hands, compared to its average volume of 3,381,299. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $413.82. 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 business has a 50 day moving average of $374.21 and a 200-day moving average of $356.13. The firm has a market capitalization of $408.67 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 2.71 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.65 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. 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.