Legacy Private Trust Co. Boosts Position in The Home Depot, Inc. (NYSE:HD)

Legacy Private Trust Co. raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,902 shares of the home improvement retailer’s stock after buying an additional 36 shares during the quarter. Legacy Private Trust Co.’s holdings in Home Depot were worth $2,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fairway Wealth LLC purchased a new stake in Home Depot in the second quarter worth approximately $25,000. Kings Path Partners LLC purchased a new stake in Home Depot in the second quarter worth approximately $33,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot in the first quarter worth approximately $38,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the fourth quarter worth approximately $39,000. Finally, Denver PWM LLC purchased a new stake in Home Depot in the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD traded up $3.68 on Tuesday, hitting $411.74. The stock had a trading volume of 842,199 shares, compared to its average volume of 3,377,942. The stock has a market cap of $408.29 billion, a price-to-earnings ratio of 27.38, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business’s 50-day simple moving average is $373.28 and its two-hundred day simple moving average is $356.04. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $412.97.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business 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 business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period last year, the firm posted $4.65 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given 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 2.19%. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HD. Piper Sandler upped 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, September 30th. Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. Stifel Nicolaus lowered their price objective 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. Oppenheimer boosted their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $398.54.

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.