Cahaba Wealth Management Inc. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Cahaba Wealth Management Inc. boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 4.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,621 shares of the home improvement retailer’s stock after purchasing an additional 157 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Home Depot were worth $1,467,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Fairway Wealth LLC bought a new stake in shares of Home Depot in the second quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter valued at approximately $33,000. Denver PWM LLC bought a new stake in Home Depot in the 2nd quarter worth approximately $40,000. Abich Financial Wealth Management LLC raised its holdings in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in shares of Home Depot during the 1st quarter valued at approximately $49,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Home Depot stock opened at $415.00 on Friday. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $421.56. The company has a market capitalization of $411.52 billion, a PE ratio of 27.83, a P/E/G ratio of 2.88 and a beta of 1.00. The company has a 50 day moving average price of $385.10 and a 200-day moving average price of $358.50. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the company posted $4.65 EPS. Home Depot’s revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HD shares. Stifel Nicolaus reduced their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Guggenheim boosted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Piper Sandler increased their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $404.69.

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.