Canal Capital Management LLC Acquires 772 Shares of The Home Depot, Inc. (NYSE:HD)

Canal Capital Management LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 4.9% during the 3rd quarter, Holdings Channel reports. The firm owned 16,540 shares of the home improvement retailer’s stock after purchasing an additional 772 shares during the quarter. Canal Capital Management LLC’s holdings in Home Depot were worth $6,702,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC grew its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. Wulff Hansen & CO. lifted its stake in Home Depot by 33,540.9% in the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after purchasing an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in Home Depot during the first quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares during the period. Finally, Swedbank AB bought a new stake in shares of Home Depot in the 1st quarter valued at about $301,364,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent research reports. Piper Sandler raised their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Guggenheim lifted their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Stifel Nicolaus cut their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $412.00.

Home Depot Stock Down 0.9 %

HD stock opened at $398.91 on Friday. The business has a 50 day moving average of $389.81 and a 200 day moving average of $359.98. The firm has a market cap of $396.23 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $421.56. 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 issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during 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 was up .6% on a year-over-year basis. During the same period last year, the company earned $4.65 earnings per share. On average, research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. Home Depot’s dividend payout ratio is presently 60.57%.

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.