Dock Street Asset Management Inc. Has $990,000 Stock Position in The Home Depot, Inc. (NYSE:HD)

Dock Street Asset Management Inc. decreased its stake in The Home Depot, Inc. (NYSE:HD) by 1.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,444 shares of the home improvement retailer’s stock after selling 48 shares during the quarter. Home Depot accounts for about 0.1% of Dock Street Asset Management Inc.’s investment portfolio, making the stock its 29th largest holding. Dock Street Asset Management Inc.’s holdings in Home Depot were worth $990,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fairway Wealth LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Kings Path Partners LLC acquired a new stake in Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new stake in Home Depot during the 2nd quarter worth about $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the 3rd quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $401.85 on Wednesday. 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 business’s 50 day moving average is $387.35 and its two-hundred day moving average is $359.15. The company has a market cap of $398.48 billion, a P/E ratio of 26.95, a P/E/G 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.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.24%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.36%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. DA Davidson raised their price objective on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Truist Financial raised their price objective on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $410.67.

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.