Consolidated Planning Corp Increases Stake in The Home Depot, Inc. (NYSE:HD)

Consolidated Planning Corp grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 7.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,769 shares of the home improvement retailer’s stock after purchasing an additional 1,951 shares during the quarter. Home Depot makes up about 1.7% of Consolidated Planning Corp’s portfolio, making the stock its 15th biggest holding. Consolidated Planning Corp’s holdings in Home Depot were worth $11,657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC boosted its position in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its position in shares of 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 purchasing an additional 25 shares during the period. Ruedi Wealth Management Inc. increased its stake 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 purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC lifted its position in Home Depot by 3.4% during the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after buying an additional 28 shares during the period. Finally, Consolidated Portfolio Review Corp boosted its stake in Home Depot by 1.9% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 2.8 %

Shares of HD stock opened at $399.41 on Friday. The firm has a market capitalization of $396.73 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01. 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 Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The stock has a fifty day moving average of $393.80 and a two-hundred day moving average of $363.10.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The company 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 733.61% and a net margin of 9.71%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.25%. Home Depot’s payout ratio is presently 60.57%.

Analysts Set New Price Targets

Several research analysts recently weighed in on HD shares. Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Truist Financial increased their price objective on shares of Home Depot from $455.00 to $459.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $416.52.

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.