RKL Wealth Management LLC Boosts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

RKL Wealth Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,653 shares of the home improvement retailer’s stock after purchasing an additional 244 shares during the quarter. RKL Wealth Management LLC’s holdings in Home Depot were worth $2,291,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter worth about $33,000. Denver PWM LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new position in Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the second quarter valued at approximately $47,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $405.90 on Friday. 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 $403.18 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The Home Depot, Inc. has a 52 week low of $286.79 and a 52 week high of $421.56. The stock has a 50 day moving average of $395.19 and a 200-day moving average of $363.84.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.65 earnings per share. As a group, analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current 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 paid 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 yield of 2.22%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Jefferies Financial Group started coverage on shares of Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus reduced their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a research report on Wednesday, October 2nd. Finally, Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Company 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.