Cahaba Wealth Management Inc. Increases Stake in The Home Depot, Inc. (NYSE:HD)

Cahaba Wealth Management Inc. increased its stake in The Home Depot, Inc. (NYSE:HD) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,621 shares of the home improvement retailer’s stock after buying an additional 157 shares during the period. Cahaba Wealth Management Inc.’s holdings in Home Depot were worth $1,467,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alaska Permanent Fund Corp purchased a new stake in shares of Home Depot in the 1st quarter worth about $96,000. Daymark Wealth Partners LLC increased its stake in shares of Home Depot by 0.9% during the first quarter. Daymark Wealth Partners LLC now owns 173,582 shares of the home improvement retailer’s stock valued at $66,586,000 after purchasing an additional 1,550 shares in the last quarter. BTC Capital Management Inc. purchased a new position in shares of Home Depot during the first quarter valued at approximately $5,549,000. PFW Advisors LLC boosted its position in shares of Home Depot by 1.8% in the 1st quarter. PFW Advisors LLC now owns 8,225 shares of the home improvement retailer’s stock worth $3,155,000 after purchasing an additional 143 shares in the last quarter. Finally, Allied Investment Advisors LLC grew its stake in shares of Home Depot by 3.8% in the 1st quarter. Allied Investment Advisors LLC now owns 1,838 shares of the home improvement retailer’s stock worth $705,000 after buying an additional 68 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $415.00 on Friday. The business has a 50-day simple moving average of $385.10 and a two-hundred day simple moving average of $358.50. 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 $274.26 and a 52 week high of $421.56. The stock has a market cap of $411.52 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $4.65 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, analysts expect 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. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Analyst Upgrades and Downgrades

Several research firms have commented on HD. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Royal Bank of Canada dropped 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 note on Wednesday, August 14th. Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. Finally, Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $404.69.

About Home Depot

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.