Davidson Capital Management Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

Davidson Capital Management Inc. grew its holdings in The Home Depot, Inc. (NYSE:HD) by 3.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,302 shares of the home improvement retailer’s stock after buying an additional 333 shares during the period. Home Depot accounts for about 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 23rd biggest holding. Davidson Capital Management Inc.’s holdings in Home Depot were worth $3,618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Synergy Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter valued at about $28,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot during the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot during the third quarter worth about $46,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of NYSE HD opened at $407.20 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $404.50 billion, a price-to-earnings ratio of 27.66, a price-to-earnings-growth ratio of 4.22 and a beta of 1.05. The stock’s 50-day moving average is $405.62 and its two-hundred day moving average is $395.38. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. During the same period in the prior year, the firm earned $3.81 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America increased their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. TD Cowen increased their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. upped their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Morgan Stanley raised their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $428.85.

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.