West Michigan Advisors LLC Raises Position in The Home Depot, Inc. (NYSE:HD)

West Michigan Advisors LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 8.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,979 shares of the home improvement retailer’s stock after acquiring an additional 456 shares during the quarter. West Michigan Advisors LLC’s holdings in Home Depot were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Fairway Wealth LLC purchased a new position in Home Depot in the second quarter worth approximately $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter worth $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the third quarter valued at $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the second quarter valued at $47,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HD. Guggenheim upped their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Morgan Stanley increased their target price on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $412.00.

Home Depot Trading Down 0.9 %

Shares of Home Depot stock opened at $398.97 on Friday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $421.56. The company’s 50-day simple moving average is $389.08 and its 200-day simple moving average is $359.73. The firm has a market cap of $396.29 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 2.78 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 released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter last year, the company earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed 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 2.26%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.57%.

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.