Narwhal Capital Management Increases Stake in The Home Depot, Inc. (NYSE:HD)

Narwhal Capital Management raised its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 61,497 shares of the home improvement retailer’s stock after purchasing an additional 2,693 shares during the quarter. Home Depot makes up approximately 2.2% of Narwhal Capital Management’s portfolio, making the stock its 12th largest holding. Narwhal Capital Management’s holdings in Home Depot were worth $24,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HD. Blossom Wealth Management lifted its stake in shares of Home Depot by 1.6% during the 3rd quarter. Blossom Wealth Management now owns 2,147 shares of the home improvement retailer’s stock valued at $870,000 after buying an additional 33 shares in the last quarter. Segment Wealth Management LLC lifted its position in shares of Home Depot by 0.3% during the third quarter. Segment Wealth Management LLC now owns 46,900 shares of the home improvement retailer’s stock worth $19,004,000 after acquiring an additional 126 shares in the last quarter. Private Advisor Group LLC boosted its holdings in shares of Home Depot by 8.8% in the third quarter. Private Advisor Group LLC now owns 115,144 shares of the home improvement retailer’s stock worth $46,657,000 after acquiring an additional 9,325 shares during the period. Tempus Wealth Planning LLC grew its position in shares of Home Depot by 13.2% in the third quarter. Tempus Wealth Planning LLC now owns 2,304 shares of the home improvement retailer’s stock valued at $934,000 after purchasing an additional 268 shares in the last quarter. Finally, Accordant Advisory Group Inc raised its stake in shares of Home Depot by 50.0% during the 3rd quarter. Accordant Advisory Group Inc now owns 450 shares of the home improvement retailer’s stock valued at $182,000 after purchasing an additional 150 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

HD opened at $399.64 on Thursday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The stock’s 50 day simple moving average is $388.23 and its 200 day simple moving average is $359.43. The firm has a market cap of $396.29 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.88 and a beta of 1.00.

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

Home Depot Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on HD shares. Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. DA Davidson boosted their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. Royal Bank of Canada reduced their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Finally, UBS Group increased their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $410.67.

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.