Forum Financial Management LP Buys 682 Shares of The Home Depot, Inc. (NYSE:HD)

Forum Financial Management LP increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 15,364 shares of the home improvement retailer’s stock after acquiring an additional 682 shares during the period. Forum Financial Management LP’s holdings in Home Depot were worth $5,976,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in Home Depot during the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Navigoe LLC bought a new position in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $32,000. Finally, Quarry LP boosted its stake in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $363.17 on Friday. The stock’s fifty day simple moving average is $359.90 and its 200 day simple moving average is $387.20. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm has a market cap of $361.00 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same period in the previous year, the business posted $3.63 earnings per share. The firm’s revenue was up 9.4% compared to the same quarter last year. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.53%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Robert W. Baird lowered their price objective on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wells Fargo & Company dropped their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Gordon Haskett increased their price target on shares of Home Depot from $350.00 to $360.00 in a report on Tuesday. Finally, Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an “outperform” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

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.