Wedgewood Investors Inc. PA Invests $1.10 Million in The Home Depot, Inc. (NYSE:HD)

by · The Cerbat Gem

Wedgewood Investors Inc. PA bought a new stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,192 shares of the home improvement retailer’s stock, valued at approximately $1,099,000. Home Depot accounts for about 1.3% of Wedgewood Investors Inc. PA’s portfolio, making the stock its 20th biggest holding.

A number of other large investors also recently made changes to their positions in HD. Bare Financial Services Inc acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $38,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Home Depot during the 1st quarter worth $38,000. Finally, Livelsberger Financial Advisory acquired a new position in Home Depot during the 4th quarter worth $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD traded up $10.23 during trading hours on Friday, reaching $375.59. 3,426,154 shares of the company were exchanged, compared to its average volume of 3,446,290. The company has a market capitalization of $372.44 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.48 and a beta of 0.98. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The business has a 50 day moving average of $353.44 and a 200 day moving average of $353.58. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD – Get Free Report) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $4.65 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HD shares. HSBC cut their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. Wells Fargo & Company lowered their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. Wedbush reissued an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a research note on Friday, May 10th. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and upped their target price for the company from $352.00 to $395.00 in a research note on Wednesday, June 26th. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $386.33.

View Our Latest Analysis on Home Depot

About Home Depot

(Free Report)

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.

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