Horizon Wealth Management LLC Purchases New Holdings in The Home Depot, Inc. (NYSE:HD)

Horizon Wealth Management LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 540 shares of the home improvement retailer’s stock, valued at approximately $219,000.

Several other hedge funds have also recently modified their holdings of the stock. Abacus Wealth Partners LLC grew its holdings in shares of 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 purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its position in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares during the period. Ruedi Wealth Management Inc. boosted its stake in shares of Home Depot by 1.2% in the 2nd 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 increased its position in shares of 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, Talisman Wealth Advisors LLC raised its position in shares of Home Depot by 1.2% in the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after acquiring an additional 29 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HD shares. Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. UBS Group boosted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Piper Sandler lifted their target price 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, Evercore ISI cut their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $404.69.

Home Depot Trading Up 0.7 %

Shares of Home Depot stock opened at $418.61 on Thursday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The firm has a market cap of $415.10 billion, a PE ratio of 28.08, a PEG ratio of 2.88 and a beta of 1.00. The company has a 50 day simple moving average of $382.42 and a two-hundred day simple moving average of $357.80.

Home Depot (NYSE:HD) last released its earnings results 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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the firm earned $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 2.15%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

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.