Trifecta Capital Advisors LLC Acquires 917 Shares of The Home Depot, Inc. (NYSE:HD)

Trifecta Capital Advisors LLC lifted its stake in The Home Depot, Inc. (NYSE:HD) by 6.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,283 shares of the home improvement retailer’s stock after acquiring an additional 917 shares during the period. Home Depot accounts for 1.4% of Trifecta Capital Advisors LLC’s portfolio, making the stock its 18th largest position. Trifecta Capital Advisors LLC’s holdings in Home Depot were worth $6,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Lynch & Associates IN raised its stake in Home Depot by 12.5% in the first quarter. Lynch & Associates IN now owns 4,978 shares of the home improvement retailer’s stock valued at $1,910,000 after buying an additional 553 shares during the last quarter. Woodstock Corp grew its position in Home Depot by 0.3% during the 1st quarter. Woodstock Corp now owns 59,613 shares of the home improvement retailer’s stock worth $22,868,000 after purchasing an additional 172 shares during the last quarter. Alaska Permanent Fund Corp purchased a new stake in Home Depot during the 1st quarter worth approximately $96,000. Stolper Co increased its stake in Home Depot by 0.5% during the 1st quarter. Stolper Co now owns 12,851 shares of the home improvement retailer’s stock valued at $4,930,000 after purchasing an additional 65 shares in the last quarter. Finally, Montecito Bank & Trust raised its holdings in shares of Home Depot by 0.6% in the first quarter. Montecito Bank & Trust now owns 5,593 shares of the home improvement retailer’s stock worth $2,145,000 after buying an additional 33 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HD. Truist Financial upped 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. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lifted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, UBS Group lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $404.69.

Home Depot Stock Performance

NYSE HD opened at $415.75 on Friday. The stock’s 50 day simple moving average is $383.77 and its 200-day simple moving average is $358.20. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $421.56. 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 company has a market cap of $412.26 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last issued 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 during 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 681.27%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $4.65 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.16%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.