Bank Pictet & Cie Europe AG Purchases 2,075 Shares of The Home Depot, Inc. (NYSE:HD)

Bank Pictet & Cie Europe AG grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 21.7% during the third quarter, Holdings Channel reports. The institutional investor owned 11,639 shares of the home improvement retailer’s stock after buying an additional 2,075 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Home Depot were worth $4,716,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HD. West Paces Advisors Inc. increased its stake in shares of Home Depot by 1.3% in the first quarter. West Paces Advisors Inc. now owns 13,708 shares of the home improvement retailer’s stock worth $5,258,000 after purchasing an additional 174 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of Home Depot by 5.7% in the first quarter. Sound Income Strategies LLC now owns 3,358 shares of the home improvement retailer’s stock worth $1,288,000 after purchasing an additional 181 shares in the last quarter. Disciplined Investments LLC purchased a new stake in shares of Home Depot in the first quarter worth $215,000. IAM Advisory LLC increased its stake in shares of Home Depot by 3.8% in the first quarter. IAM Advisory LLC now owns 1,336 shares of the home improvement retailer’s stock worth $513,000 after purchasing an additional 49 shares in the last quarter. Finally, CFM Wealth Partners LLC boosted its position in shares of Home Depot by 8.4% during the first quarter. CFM Wealth Partners LLC now owns 16,619 shares of the home improvement retailer’s stock worth $6,375,000 after acquiring an additional 1,281 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HD. Royal Bank of Canada dropped their target price 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. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. Piper Sandler upped their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $410.67.

Home Depot Trading Down 0.5 %

HD stock opened at $399.64 on Thursday. The company has a market capitalization of $396.29 billion, a PE ratio of 26.80, 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. The firm’s 50-day moving average is $388.23 and its 200 day moving average is $359.43. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last posted 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 net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $4.65 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently declared 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 yield of 2.25%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

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.