Orca Investment Management LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Orca Investment Management LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,118 shares of the home improvement retailer’s stock after buying an additional 220 shares during the period. Home Depot accounts for about 1.9% of Orca Investment Management LLC’s holdings, making the stock its 20th largest holding. Orca Investment Management LLC’s holdings in Home Depot were worth $2,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC increased its position in shares of Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Legal & General Group Plc increased its position in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Home Depot by 15.0% in the 1st 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 acquiring an additional 971,833 shares during the period. Ameriprise Financial Inc. increased its position in Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after acquiring an additional 138,396 shares during the period. Finally, Jennison Associates LLC increased its position in Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI dropped their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Truist Financial dropped 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. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $402.38.

Home Depot Price Performance

HD stock opened at $411.90 on Monday. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $420.03. 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 stock’s 50 day moving average price is $378.34 and its 200 day moving average price is $356.92. The firm has a market cap of $408.45 billion, a P/E ratio of 27.63, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last posted 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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 EPS. Home Depot’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Home Depot Company 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.