Joseph Group Capital Management Has $4.43 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Joseph Group Capital Management lifted its stake in The Home Depot, Inc. (NYSE:HD) by 18.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,923 shares of the home improvement retailer’s stock after purchasing an additional 1,668 shares during the period. Home Depot comprises about 1.7% of Joseph Group Capital Management’s investment portfolio, making the stock its 10th largest position. Joseph Group Capital Management’s holdings in Home Depot were worth $4,426,000 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. Fairway Wealth LLC purchased a new position in shares of Home Depot during the second quarter worth approximately $25,000. Kings Path Partners LLC bought a new position in Home Depot in the second quarter worth approximately $33,000. Livelsberger Financial Advisory purchased a new position in Home Depot during the 3rd quarter worth $46,000. Denver PWM LLC bought a new stake in Home Depot during the 2nd quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 51 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Stifel Nicolaus boosted their price target on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Performance

NYSE:HD opened at $410.44 on Tuesday. The firm has a market cap of $407.69 billion, a price-to-earnings ratio of 27.88, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The Home Depot, Inc. has a 1-year low of $302.34 and a 1-year high of $421.56. The firm’s fifty day moving average price is $400.41 and its 200 day moving average price is $367.33.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the prior year, the company posted $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

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.