Baker Avenue Asset Management LP Purchases 614 Shares of The Home Depot, Inc. (NYSE:HD)

Baker Avenue Asset Management LP lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,688 shares of the home improvement retailer’s stock after purchasing an additional 614 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Home Depot were worth $10,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Kampmann Melissa S. lifted its stake in shares of Home Depot by 26.8% in the third quarter. Kampmann Melissa S. now owns 7,270 shares of the home improvement retailer’s stock worth $2,946,000 after buying an additional 1,535 shares in the last quarter. Axxcess Wealth Management LLC raised its position in Home Depot by 9.7% during the 3rd quarter. Axxcess Wealth Management LLC now owns 48,362 shares of the home improvement retailer’s stock worth $19,597,000 after buying an additional 4,292 shares during the last quarter. Alan B Lancz & Associates Inc. increased its holdings in Home Depot by 11.1% in the 3rd quarter. Alan B Lancz & Associates Inc. now owns 1,500 shares of the home improvement retailer’s stock worth $608,000 after acquiring an additional 150 shares in the last quarter. Arrow Financial Corp lifted its position in Home Depot by 1.0% in the third quarter. Arrow Financial Corp now owns 21,047 shares of the home improvement retailer’s stock valued at $8,528,000 after buying an additional 214 shares during the last quarter. Finally, Transcendent Capital Group LLC increased its stake in shares of Home Depot by 344.9% during the third quarter. Transcendent Capital Group LLC now owns 881 shares of the home improvement retailer’s stock worth $357,000 after buying an additional 683 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.6 %

HD stock traded up $6.46 during mid-day trading on Friday, reaching $405.90. The company’s stock had a trading volume of 3,448,699 shares, compared to its average volume of 3,078,940. The company has a market cap of $403.18 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. 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 12 month low of $286.79 and a 12 month high of $421.56. The business’s 50 day moving average price is $395.19 and its 200 day moving average price is $363.84.

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 733.61% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the business posted $4.65 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. On average, equities research analysts predict 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. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s dividend payout ratio is currently 60.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on HD shares. Wells Fargo & Company upped their target price on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank of Canada decreased their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus lowered their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $360.00 to $455.00 in a report on Friday. Finally, JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $420.04.

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.