The Home Depot, Inc. (NYSE:HD) Shares Bought by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,196 shares of the home improvement retailer’s stock after acquiring an additional 121 shares during the period. Legacy Capital Group California Inc.’s holdings in Home Depot were worth $485,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HD. Evercore ISI cut their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. UBS Group lifted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. 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 report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $412.00.

Home Depot Stock Performance

Shares of HD opened at $398.97 on Friday. 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 12-month low of $274.26 and a 12-month high of $421.56. The business’s fifty day moving average price is $389.08 and its 200 day moving average price is $359.73. The stock has a market capitalization of $396.29 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00.

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, beating 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 business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business posted $4.65 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) 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.