GGM Financials LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

GGM Financials LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 742 shares of the home improvement retailer’s stock, valued at approximately $300,000.

Other hedge funds have also recently added to or reduced their stakes in the company. WFA Asset Management Corp grew its holdings in Home Depot by 10.7% in the 1st quarter. WFA Asset Management Corp now owns 1,394 shares of the home improvement retailer’s stock valued at $535,000 after buying an additional 135 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its stake in Home Depot by 5.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 11,421 shares of the home improvement retailer’s stock worth $4,381,000 after buying an additional 623 shares during the period. Avidian Wealth Solutions LLC raised its stake in shares of Home Depot by 3.1% in the 1st quarter. Avidian Wealth Solutions LLC now owns 14,261 shares of the home improvement retailer’s stock valued at $5,471,000 after acquiring an additional 432 shares during the period. Catalina Capital Group LLC lifted its holdings in shares of Home Depot by 61.2% in the 1st quarter. Catalina Capital Group LLC now owns 5,618 shares of the home improvement retailer’s stock worth $2,155,000 after acquiring an additional 2,133 shares during the last quarter. Finally, Carson Advisory Inc. raised its position in Home Depot by 0.5% in the first quarter. Carson Advisory Inc. now owns 6,618 shares of the home improvement retailer’s stock valued at $2,539,000 after purchasing an additional 30 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HD shares. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Wednesday, October 2nd. Evercore ISI dropped their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada reduced their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Piper Sandler increased their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $416.37.

Home Depot Trading Down 3.0 %

HD opened at $388.19 on Thursday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 52 week low of $286.79 and a 52 week high of $421.56. The business’s 50 day moving average is $393.80 and its two-hundred day moving average is $363.10. The firm has a market cap of $385.59 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01.

Home Depot (NYSE:HD) last announced 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 business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $4.65 EPS. On average, 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 given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.32%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

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.