Cornerstone Capital Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

Cornerstone Capital Inc. boosted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,031 shares of the home improvement retailer’s stock after purchasing an additional 3,546 shares during the period. Home Depot makes up about 2.1% of Cornerstone Capital Inc.’s portfolio, making the stock its 16th biggest position. Cornerstone Capital Inc.’s holdings in Home Depot were worth $22,704,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. MinichMacGregor Wealth Management LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $204,000. Global Wealth Management Investment Advisory Inc. boosted its holdings in shares of Home Depot by 3.4% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 16,376 shares of the home improvement retailer’s stock valued at $6,635,000 after acquiring an additional 546 shares during the last quarter. Heritage Investors Management Corp boosted its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Heritage Investors Management Corp now owns 130,033 shares of the home improvement retailer’s stock valued at $52,688,000 after acquiring an additional 845 shares during the last quarter. Hanlon Investment Management Inc. boosted its holdings in shares of Home Depot by 24.8% in the 3rd quarter. Hanlon Investment Management Inc. now owns 1,006 shares of the home improvement retailer’s stock valued at $408,000 after acquiring an additional 200 shares during the last quarter. Finally, Clarity Financial LLC boosted its holdings in shares of Home Depot by 33.7% in the 3rd quarter. Clarity Financial LLC now owns 2,057 shares of the home improvement retailer’s stock valued at $833,000 after acquiring an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of NYSE HD opened at $400.21 on Wednesday. The firm has a 50-day simple moving average of $393.49 and a 200-day simple moving average of $362.92. The stock has a market capitalization of $397.53 billion, a price-to-earnings ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01. 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 $286.79 and a 52 week high of $421.56.

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 analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. On average, equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HD shares. DA Davidson upped their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. Piper Sandler upped their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Barclays increased their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, TD Cowen increased their price target on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $415.26.

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.