RWQ Financial Management Services Inc. Buys Shares of 52,292 The Home Depot, Inc. (NYSE:HD)

RWQ Financial Management Services Inc. purchased a new position in The Home Depot, Inc. (NYSE:HD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 52,292 shares of the home improvement retailer’s stock, valued at approximately $21,189,000. Home Depot makes up about 7.3% of RWQ Financial Management Services Inc.’s investment portfolio, making the stock its 6th biggest holding.

Several other institutional investors have also made changes to their positions in HD. Abacus Wealth Partners LLC raised its stake in Home Depot by 3.7% during the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after acquiring an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. grew its holdings in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC lifted its holdings in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp boosted its position in Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after buying an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Truist Financial lifted their price objective on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Price Performance

NYSE HD opened at $392.59 on Monday. 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 has a market cap of $389.96 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.73 and a beta of 1.01. The business has a 50 day simple moving average of $392.51 and a 200 day simple moving average of $362.03. The Home Depot, Inc. has a 52-week low of $286.79 and a 52-week high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during 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 681.27%. The firm’s revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

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 $2.25 dividend. 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 2.29%. Home Depot’s dividend payout ratio (DPR) is 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.