Cohen Capital Management Inc. Makes New $330,000 Investment in The Home Depot, Inc. (NYSE:HD)

Cohen Capital Management Inc. bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 814 shares of the home improvement retailer’s stock, valued at approximately $330,000.

Other large investors have also recently modified their holdings of the company. Abacus Wealth Partners LLC raised its holdings in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. raised its holdings in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares in the last quarter. Acorn Creek Capital LLC raised its holdings in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp increased its stake in Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HD shares. Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Oppenheimer increased their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. 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 research note on Monday, September 30th. TD Cowen increased their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Morgan Stanley raised their target price on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Price Performance

Home Depot stock opened at $395.57 on Tuesday. The Home Depot, Inc. has a 52 week low of $286.79 and a 52 week high of $421.56. 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 firm’s 50-day simple moving average is $392.94 and its 200 day simple moving average is $362.47. The firm has a market capitalization of $392.92 billion, a PE ratio of 26.62, a P/E/G ratio of 2.73 and a beta of 1.01.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

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.