Zega Financial LLC Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Zega Financial LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 227.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,556 shares of the home improvement retailer’s stock after purchasing an additional 1,776 shares during the period. Zega Financial LLC’s holdings in Home Depot were worth $880,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Fairway Wealth LLC bought a new stake in shares of Home Depot during the 2nd quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot in the fourth quarter worth approximately $27,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the 2nd quarter worth approximately $33,000. Burkett Financial Services LLC bought a new position in shares of Home Depot during the 4th quarter valued at $38,000. Finally, A.P. Gilfoyle & Co. L.P. bought a new stake in Home Depot in the first quarter worth $38,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 0.4 %

NYSE:HD opened at $383.46 on Wednesday. The firm has a 50-day simple moving average of $362.82 and a two-hundred day simple moving average of $353.92. The firm has a market cap of $380.24 billion, a P/E ratio of 25.72, a P/E/G ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business earned $4.65 EPS. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.35%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analysts Set New Price Targets

A number of brokerages have commented on HD. DA Davidson lifted their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Loop Capital increased their target price on shares of Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Evercore ISI decreased their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $389.04.

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.