Whitaker Myers Wealth Managers LTD. Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Whitaker Myers Wealth Managers LTD. increased its stake in The Home Depot, Inc. (NYSE:HD) by 6.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 763 shares of the home improvement retailer’s stock after buying an additional 49 shares during the quarter. Whitaker Myers Wealth Managers LTD.’s holdings in Home Depot were worth $309,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HD. Fairway Wealth LLC bought a new stake in Home Depot in the 2nd quarter valued at about $25,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the second quarter worth about $33,000. Denver PWM LLC bought a new stake in shares of Home Depot in the second quarter valued at approximately $40,000. Abich Financial Wealth Management LLC lifted its stake in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 51 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. bought a new position in Home Depot in the 1st quarter worth approximately $49,000. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of a number of analyst reports. Piper Sandler boosted their target price 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. Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. 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. Guggenheim increased their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Evercore ISI reduced their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Stock Performance

NYSE HD opened at $415.00 on Friday. The company has a 50-day simple moving average of $385.10 and a two-hundred day simple moving average of $358.50. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $421.56. The firm has a market cap of $411.52 billion, a price-to-earnings ratio of 27.83, 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.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.65 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

About Home Depot

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.