Sax Wealth Advisors LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Sax Wealth Advisors LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 13.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,959 shares of the home improvement retailer’s stock after buying an additional 229 shares during the period. Sax Wealth Advisors LLC’s holdings in Home Depot were worth $794,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HD. Fairway Wealth LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $25,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $33,000. Denver PWM LLC purchased a new stake in shares of Home Depot in the 2nd quarter worth $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the 2nd quarter worth $47,000. Finally, Quarry LP increased its stake in shares of Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD opened at $415.61 on Friday. The company has a market cap of $412.12 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The company has a 50 day moving average of $383.77 and a two-hundred day moving average of $358.20.

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. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the firm earned $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. As a group, analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.17%. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

HD has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Evercore ISI cut their price target 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. Truist Financial increased their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $404.69.

Home Depot 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.