WESPAC Advisors SoCal LLC Invests $335,000 in The Home Depot, Inc. (NYSE:HD)

WESPAC Advisors SoCal LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 826 shares of the home improvement retailer’s stock, valued at approximately $335,000.

Several other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. grew its position in Home Depot by 33,540.9% during the second quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Swedbank AB bought a new position in Home Depot in the 1st quarter worth about $301,364,000. Finally, Sarasin & Partners LLP boosted its position in shares of Home Depot by 95.2% during the 2nd quarter. Sarasin & Partners LLP now owns 1,139,934 shares of the home improvement retailer’s stock valued at $392,411,000 after acquiring an additional 556,053 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HD shares. UBS Group upped their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Mizuho increased their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, TD Cowen increased their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One investment 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. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $426.00.

Home Depot Price Performance

Shares of Home Depot stock opened at $408.18 on Friday. The company has a market cap of $405.44 billion, a PE ratio of 27.73, a P/E/G ratio of 2.84 and a beta of 1.01. The business has a 50 day moving average of $399.51 and a 200 day moving average of $366.56. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 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 last year, the company posted $3.81 EPS. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Insider Transactions at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.