Cutter & CO Brokerage Inc. Grows Stake in The Home Depot, Inc. (NYSE:HD)

Cutter & CO Brokerage Inc. lifted its stake in The Home Depot, Inc. (NYSE:HD) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,199 shares of the home improvement retailer’s stock after buying an additional 163 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Home Depot were worth $891,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Kowal Investment Group LLC raised its position in shares of Home Depot by 15.3% in the 1st quarter. Kowal Investment Group LLC now owns 4,138 shares of the home improvement retailer’s stock valued at $1,587,000 after purchasing an additional 550 shares in the last quarter. Little House Capital LLC raised its stake in shares of Home Depot by 0.9% in the 1st quarter. Little House Capital LLC now owns 6,561 shares of the home improvement retailer’s stock valued at $2,517,000 after purchasing an additional 57 shares in the last quarter. Miracle Mile Advisors LLC grew its stake in Home Depot by 4.0% in the first quarter. Miracle Mile Advisors LLC now owns 21,336 shares of the home improvement retailer’s stock worth $8,185,000 after purchasing an additional 826 shares in the last quarter. Talbot Financial LLC increased its holdings in Home Depot by 1.5% in the first quarter. Talbot Financial LLC now owns 38,461 shares of the home improvement retailer’s stock valued at $14,753,000 after buying an additional 560 shares during the last quarter. Finally, Claro Advisors LLC lifted its holdings in Home Depot by 5.2% during the 1st quarter. Claro Advisors LLC now owns 12,205 shares of the home improvement retailer’s stock worth $4,682,000 after buying an additional 604 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 1.9 %

Shares of NYSE:HD opened at $395.10 on Wednesday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market capitalization of $391.79 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.78 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $276.96 and a 1-year high of $421.56. The company has a 50 day moving average price of $391.17 and a 200 day moving average price of $360.80.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping 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 business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the firm posted $4.65 EPS. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada lowered their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, 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. One investment 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. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $413.48.

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.