Indie Asset Partners LLC Purchases 588 Shares of The Home Depot, Inc. (NYSE:HD)

Indie Asset Partners LLC increased its position in The Home Depot, Inc. (NYSE:HD) by 68.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,450 shares of the home improvement retailer’s stock after buying an additional 588 shares during the quarter. Indie Asset Partners LLC’s holdings in Home Depot were worth $588,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fairway Wealth LLC bought a new stake in Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the second quarter valued at approximately $33,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the third quarter valued at approximately $46,000. Denver PWM LLC bought a new stake in Home Depot in the second quarter valued at approximately $40,000. Finally, Abich Financial Wealth Management LLC lifted its position in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.3 %

Home Depot stock opened at $392.59 on Monday. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56. The business’s fifty day moving average is $392.51 and its 200 day moving average is $362.03. 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 PE ratio of 26.42, a price-to-earnings-growth ratio of 2.73 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. Home Depot’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HD. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price for the company. Morgan Stanley upped their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group initiated coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $413.48.

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.