Klingenstein Fields & Co. LP Increases Stake in The Home Depot, Inc. (NYSE:HD)

Klingenstein Fields & Co. LP boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,104 shares of the home improvement retailer’s stock after acquiring an additional 192 shares during the quarter. Klingenstein Fields & Co. LP’s holdings in Home Depot were worth $28,406,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Fairway Wealth LLC purchased a new stake in Home Depot in the second quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in Home Depot in the second quarter valued at $33,000. Denver PWM LLC purchased a new stake in Home Depot in the second quarter valued at $40,000. Livelsberger Financial Advisory purchased a new stake in Home Depot in the third quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the 2nd quarter valued at $47,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson boosted their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley upped their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Sanford C. Bernstein began coverage on Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective for the company. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Finally, Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $413.48.

Home Depot Stock Up 0.8 %

Shares of Home Depot stock opened at $395.57 on Tuesday. The firm has a market cap of $392.92 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.73 and a beta of 1.01. The business has a 50-day moving average price of $392.94 and a 200 day moving average price of $362.47. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two 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.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the prior year, the company earned $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, sell-side 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 announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 dividend on an annualized basis and a yield of 2.28%. Home Depot’s dividend payout ratio (DPR) 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.