Fortis Capital Management LLC Purchases 59 Shares of The Home Depot, Inc. (NYSE:HD)

Fortis Capital Management LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,877 shares of the home improvement retailer’s stock after acquiring an additional 59 shares during the period. Fortis Capital Management LLC’s holdings in Home Depot were worth $1,166,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HD. WFA Asset Management Corp raised its position in shares of Home Depot by 10.7% during the first quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock worth $535,000 after purchasing an additional 135 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Home Depot by 5.8% in the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock valued at $4,381,000 after purchasing an additional 623 shares in the last quarter. Brighton Jones LLC boosted its position in shares of Home Depot by 1.3% during the first quarter. Brighton Jones LLC now owns 22,321 shares of the home improvement retailer’s stock valued at $8,562,000 after buying an additional 286 shares during the last quarter. Great Lakes Retirement Inc. raised its position in Home Depot by 1.3% in the 1st quarter. Great Lakes Retirement Inc. now owns 5,498 shares of the home improvement retailer’s stock valued at $2,109,000 after buying an additional 73 shares during the last quarter. Finally, GM Advisory Group LLC lifted its stake in Home Depot by 1.8% during the 1st quarter. GM Advisory Group LLC now owns 5,169 shares of the home improvement retailer’s stock valued at $1,983,000 after acquiring an additional 93 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD stock opened at $410.39 on Thursday. The firm has a market capitalization of $407.64 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.79 and a beta of 1.01. The stock has a fifty day moving average of $396.76 and a 200 day moving average of $365.25. The Home Depot, Inc. has a 52 week low of $300.14 and a 52 week high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period last year, the company posted $3.81 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 14.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HD. Wells Fargo & Company raised their price target on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley raised their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Oppenheimer increased 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 report on Tuesday, September 24th. Guggenheim increased their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada lifted their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.