The Home Depot, Inc. (NYSE:HD) Shares Purchased by Pictet North America Advisors SA

Pictet North America Advisors SA boosted its stake in The Home Depot, Inc. (NYSE:HD) by 15.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 13,166 shares of the home improvement retailer’s stock after purchasing an additional 1,756 shares during the period. Pictet North America Advisors SA’s holdings in Home Depot were worth $4,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bare Financial Services Inc purchased a new position in Home Depot during the 4th quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $38,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot during the 1st quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot in the 4th quarter valued at approximately $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HD. UBS Group increased their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday, August 14th. Citigroup cut their target price on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, Wedbush reissued an “outperform” rating and issued a $410.00 price objective on shares of Home Depot in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $386.33.

Home Depot Stock Performance

Shares of HD traded up $10.23 during mid-day trading on Friday, hitting $375.59. 3,426,154 shares of the company’s stock were exchanged, compared to its average volume of 3,446,290. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The business’s 50 day moving average is $353.44 and its two-hundred day moving average is $353.65. The firm has a market capitalization of $372.44 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its 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. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the business posted $4.65 EPS. The company’s revenue was up .6% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

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.