Virginia Wealth Management Group Inc. Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Virginia Wealth Management Group Inc. raised its stake in The Home Depot, Inc. (NYSE:HD) by 29.1% during the third quarter, Holdings Channel reports. The fund owned 6,003 shares of the home improvement retailer’s stock after buying an additional 1,354 shares during the period. Virginia Wealth Management Group Inc.’s holdings in Home Depot were worth $2,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wulff Hansen & CO. lifted its stake in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot during the 1st quarter valued at $513,016,000. Price T Rowe Associates Inc. MD grew its stake in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares during the period. Swedbank AB purchased a new stake in Home Depot in the 1st quarter worth about $301,364,000. Finally, Jennison Associates LLC raised its stake in Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after acquiring an additional 569,690 shares during the period. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on HD. Evercore ISI cut their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Oppenheimer increased their target price on 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 Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a research report on Wednesday. Finally, Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $402.38.

Home Depot Stock Performance

Shares of HD stock remained flat at $409.96 during trading hours on Friday. 398,049 shares of the company’s stock traded hands, compared to its average volume of 3,377,704. The stock has a market capitalization of $407.21 billion, a P/E ratio of 27.59, a PEG ratio of 2.88 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $420.03. The stock has a 50-day simple moving average of $377.21 and a 200 day simple moving average of $357.09.

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 the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.65 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 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.