BWM Planning LLC Invests $1.65 Million in The Home Depot, Inc. (NYSE:HD)

BWM Planning LLC acquired a new position in The Home Depot, Inc. (NYSE:HD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 4,064 shares of the home improvement retailer’s stock, valued at approximately $1,647,000. Home Depot comprises 0.7% of BWM Planning LLC’s portfolio, making the stock its 27th largest position.

A number of other hedge funds also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC raised its stake in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares during the period. Ruedi Wealth Management Inc. raised its stake in shares of Home Depot by 1.2% during 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 period. Acorn Creek Capital LLC raised its stake in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the period. Talisman Wealth Advisors LLC raised its stake in shares of Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the period. Finally, LMG Wealth Partners LLC raised its stake in shares of Home Depot by 1.7% during the 2nd quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after purchasing an additional 29 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Melius Research assumed coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. Stifel Nicolaus decreased their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Truist Financial cut their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Piper Sandler upped their price objective on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $402.38.

Home Depot Stock Up 0.1 %

HD stock traded up $0.58 on Friday, reaching $410.54. 456,769 shares of the company traded hands, compared to its average volume of 3,378,002. The firm has a fifty day simple moving average of $377.21 and a 200-day simple moving average of $357.09. 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 one year low of $274.26 and a one year high of $420.03. The company has a market cap of $407.79 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last issued 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 business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the business posted $4.65 EPS. The company’s revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.19%. Home Depot’s dividend payout ratio (DPR) is currently 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.