Axxcess Wealth Management LLC Grows Stock Position in The Home Depot, Inc. (NYSE:HD)

Axxcess Wealth Management LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,362 shares of the home improvement retailer’s stock after acquiring an additional 4,292 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Home Depot were worth $19,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Fairway Wealth LLC purchased a new position in Home Depot during the second quarter worth approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter worth approximately $33,000. Denver PWM LLC purchased a new position in Home Depot during the second quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the third quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Home Depot during the second quarter worth approximately $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.6 %

Shares of NYSE:HD opened at $405.90 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1 year low of $286.79 and a 1 year high of $421.56. The firm has a fifty day moving average price of $395.19 and a 200 day moving average price of $363.84. The stock has a market capitalization of $403.18 billion, a PE ratio of 27.31, a P/E/G ratio of 2.69 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 733.61%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the business posted $4.65 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s payout ratio is 60.57%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HD shares. Barclays lifted their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Evercore ISI reduced their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Piper Sandler lifted their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Guggenheim lifted their target price on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Royal Bank of Canada reduced their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $420.04.

Home Depot 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.