Meritage Portfolio Management Increases Stake in The Home Depot, Inc. (NYSE:HD)

Meritage Portfolio Management grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,456 shares of the home improvement retailer’s stock after acquiring an additional 34 shares during the period. Meritage Portfolio Management’s holdings in Home Depot were worth $1,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HD. Fairway Wealth LLC purchased a new stake in Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter valued at approximately $33,000. Denver PWM LLC bought a new position in shares of Home Depot in the second quarter worth approximately $40,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Home Depot during the 2nd quarter valued at $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HD. Guggenheim upped their target price on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Evercore ISI dropped their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. DA Davidson increased their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $360.00 to $455.00 in a report on Friday. Finally, Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Stock Performance

NYSE:HD opened at $405.90 on Monday. The firm has a market capitalization of $403.18 billion, a PE ratio of 27.31, a PEG ratio of 2.81 and a beta of 1.01. The stock’s fifty day moving average is $395.19 and its 200 day moving average is $364.01. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two week high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its 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. The business had revenue of $43.18 billion for 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%. During the same quarter in the prior year, the firm posted $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

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

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.