IFG Advisors LLC Raises Holdings in The Home Depot, Inc. (NYSE:HD)

IFG Advisors LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 4.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,456 shares of the home improvement retailer’s stock after buying an additional 113 shares during the quarter. IFG Advisors LLC’s holdings in Home Depot were worth $995,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC purchased a new stake in Home Depot during the second quarter worth approximately $40,000. Abich Financial Wealth Management LLC boosted its holdings in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. purchased a new position in Home Depot in the first quarter valued at approximately $49,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD stock opened at $415.03 on Friday. The stock has a fifty day moving average price of $385.10 and a 200 day moving average price of $358.53. 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 has a market cap of $411.55 billion, a PE ratio of 27.84, a P/E/G ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.65 EPS. Sell-side analysts forecast 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. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is presently 60.36%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HD shares. Telsey Advisory Group restated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Truist Financial raised their price objective on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Piper Sandler raised their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $404.69.

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.