Forum Financial Management LP Increases Stake in The Home Depot, Inc. (NYSE:HD)

Forum Financial Management LP boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 14,682 shares of the home improvement retailer’s stock after acquiring an additional 481 shares during the quarter. Forum Financial Management LP’s holdings in Home Depot were worth $5,949,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC bought a new stake in Home Depot during the 2nd quarter valued at $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the 2nd quarter worth $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on HD. Morgan Stanley lifted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Truist Financial increased their target price on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $413.48.

Home Depot Price Performance

Shares of NYSE HD opened at $392.59 on Monday. 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 stock has a market capitalization of $389.96 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.73 and a beta of 1.01. The firm’s 50 day simple moving average is $392.51 and its 200-day simple moving average is $362.03. The Home Depot, Inc. has a 12 month low of $286.79 and a 12 month high of $421.56.

Home Depot (NYSE:HD) last posted 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. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $4.65 EPS. Analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is presently 60.57%.

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.