The Home Depot, Inc. (NYSE:HD) Shares Acquired by Royal Fund Management LLC

Royal Fund Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 191.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,836 shares of the home improvement retailer’s stock after purchasing an additional 3,177 shares during the period. Royal Fund Management LLC’s holdings in Home Depot were worth $1,960,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Fairway Wealth LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the second quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $38,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $39,000. Finally, Denver PWM LLC acquired a new stake in shares of Home Depot in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 0.5 %

Shares of HD stock traded up $1.93 during mid-day trading on Wednesday, reaching $416.11. 415,298 shares of the company were exchanged, compared to its average volume of 3,378,239. The company has a market capitalization of $412.62 billion, a P/E ratio of 27.78, a P/E/G ratio of 2.71 and a beta of 1.00. The business’s 50 day simple moving average is $375.22 and its 200 day simple moving average is $356.30. 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 $420.00.

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

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their price target for the company from $360.00 to $460.00 in a report on Wednesday. Finally, DA Davidson raised their price objective on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $402.38.

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.