Latitude Advisors LLC Has $1.20 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Latitude Advisors LLC lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the third quarter, Holdings Channel.com reports. The fund owned 2,968 shares of the home improvement retailer’s stock after purchasing an additional 51 shares during the quarter. Latitude Advisors LLC’s holdings in Home Depot were worth $1,203,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Home Depot in the second quarter worth about $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter worth about $33,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the third quarter worth about $46,000. Denver PWM LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC increased its stake in 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 purchasing an additional 51 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HD. JPMorgan Chase & Co. raised their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Truist Financial lifted their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Oppenheimer lifted their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada lowered 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $413.48.

Home Depot Stock Performance

Shares of Home Depot stock opened at $392.59 on Monday. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56. The business has a fifty day simple moving average of $392.51 and a two-hundred day simple moving average of $362.03. The firm has a market capitalization of $389.96 billion, a P/E ratio of 26.42, a P/E/G ratio of 2.73 and a beta of 1.01. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

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

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

About Home Depot

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.