GSG Advisors LLC Raises Stake in The Home Depot, Inc. (NYSE:HD)

GSG Advisors LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,316 shares of the home improvement retailer’s stock after buying an additional 107 shares during the quarter. GSG Advisors LLC’s holdings in Home Depot were worth $947,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Field & Main Bank grew its position in Home Depot by 0.3% during the 3rd quarter. Field & Main Bank now owns 17,188 shares of the home improvement retailer’s stock worth $6,965,000 after purchasing an additional 56 shares during the period. Kerusso Capital Management LLC grew its holdings in Home Depot by 6.4% during the third quarter. Kerusso Capital Management LLC now owns 8,224 shares of the home improvement retailer’s stock worth $3,332,000 after acquiring an additional 494 shares during the period. Tillman Hartley LLC purchased a new position in Home Depot during the third quarter valued at approximately $210,000. Oxbow Advisors LLC lifted its holdings in Home Depot by 2.1% in the third quarter. Oxbow Advisors LLC now owns 2,543 shares of the home improvement retailer’s stock valued at $1,030,000 after acquiring an additional 53 shares during the period. Finally, Objective Capital Management LLC purchased a new stake in Home Depot in the 3rd quarter worth approximately $504,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HD has been the subject of several recent research reports. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price for the company in a report on Wednesday, October 2nd. Truist Financial upped their price objective on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group raised their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Loop Capital upgraded 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 research note on Wednesday, October 9th. Finally, Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $420.04.

Home Depot Stock Performance

NYSE HD opened at $405.90 on Friday. 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’s fifty day moving average is $395.19 and its two-hundred day moving average is $363.84. The firm has a market capitalization of $403.18 billion, a P/E ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two week 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, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the company posted $4.65 EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. Home Depot’s dividend payout ratio is currently 60.57%.

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.