Sollinda Capital Management LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Sollinda Capital Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,088 shares of the home improvement retailer’s stock after acquiring an additional 39 shares during the quarter. Sollinda Capital Management LLC’s holdings in Home Depot were worth $441,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC bought a new stake in Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory bought a new stake in Home Depot during the 3rd quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Home Depot during the 2nd quarter worth approximately $47,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

HD stock opened at $392.59 on Friday. The business’s 50-day moving average price is $392.51 and its two-hundred day moving average price is $361.82. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm has a market cap of $389.96 billion, a PE ratio of 26.42, a P/E/G ratio of 2.73 and a beta of 1.01. The Home Depot, Inc. has a 1-year low of $286.79 and a 1-year high of $421.56.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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 return on equity of 681.27% and a net margin of 9.71%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. As a group, research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Oppenheimer increased their target price on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. UBS Group increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their target price 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.