The Home Depot, Inc. (NYSE:HD) Position Increased by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,652 shares of the home improvement retailer’s stock after purchasing an additional 73 shares during the quarter. Fortis Capital Advisors LLC’s holdings in Home Depot were worth $569,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HD. Bey Douglas LLC bought a new stake in Home Depot in the fourth quarter worth $913,000. MinichMacGregor Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter valued at about $387,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Home Depot by 1.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 213,799 shares of the home improvement retailer’s stock valued at $74,092,000 after acquiring an additional 2,209 shares in the last quarter. Empirical Finance LLC lifted its holdings in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares during the last quarter. Finally, Commonwealth Retirement Investments LLC boosted its position in Home Depot by 5.5% during the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after purchasing an additional 965 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Price Performance

Home Depot stock opened at $363.76 on Wednesday. The business has a 50 day simple moving average of $356.09 and a 200 day simple moving average of $353.98. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The company has a market capitalization of $360.71 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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. 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 period last year, the business earned $4.65 earnings per share. The business’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HD shares. DA Davidson lifted their price target on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday. TD Cowen cut their target price on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Truist Financial lowered their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada cut their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Finally, Loop Capital lowered their target price on Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

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.