Suncoast Equity Management Acquires 49 Shares of The Home Depot, Inc. (NYSE:HD)

Suncoast Equity Management boosted its stake in The Home Depot, Inc. (NYSE:HD) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,607 shares of the home improvement retailer’s stock after purchasing an additional 49 shares during the period. Suncoast Equity Management’s holdings in Home Depot were worth $651,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Abacus Wealth Partners LLC raised its holdings in Home Depot by 3.7% during the 3rd 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. increased its position in 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 worth $1,469,000 after buying an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. boosted its holdings in 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 worth $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC grew its position in shares of Home Depot by 3.4% in the second 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 in the last quarter. Finally, Talisman Wealth Advisors LLC grew its stake in Home Depot by 1.2% during the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after acquiring an additional 29 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on HD shares. Daiwa America raised Home Depot to a “hold” rating in a report on Thursday, August 15th. Oppenheimer lifted their target price on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. UBS Group upped their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Royal Bank of Canada reduced their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $404.69.

Home Depot Trading Down 1.5 %

Shares of Home Depot stock traded down $6.21 during trading on Monday, hitting $408.79. The stock had a trading volume of 826,943 shares, compared to its average volume of 3,355,740. The stock has a market cap of $405.36 billion, a PE ratio of 27.60, a PEG ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The firm’s fifty day simple moving average is $385.10 and its 200-day simple moving average is $358.49. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

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 firm 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 posted $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued 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 2.20%. Home Depot’s payout ratio is 60.36%.

Home Depot Company 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.