Connective Portfolio Management LLC Buys New Stake in The Home Depot, Inc. (NYSE:HD)

Connective Portfolio Management LLC bought a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,075 shares of the home improvement retailer's stock, valued at approximately $2,867,000. Home Depot comprises 3.2% of Connective Portfolio Management LLC's investment portfolio, making the stock its 8th largest position.

A number of other large investors have also recently made changes to their positions in HD. Fairway Wealth LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the 2nd quarter worth $33,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in shares of Home Depot in the first quarter valued at about $38,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the fourth quarter worth about $39,000. Finally, Denver PWM LLC purchased a new position in Home Depot during the second quarter worth about $40,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price objective on Home Depot from $415.00 to $400.00 and set an "outperform" rating on the stock in a report on Wednesday, August 14th. Daiwa America raised Home Depot to a "hold" rating in a report on Thursday, August 15th. DA Davidson raised their target price on Home Depot from $395.00 to $430.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Loop Capital raised shares of Home Depot from a "hold" rating to a "buy" rating and upped their price target for the stock from $360.00 to $460.00 in a research note on Wednesday. Finally, Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a "buy" rating and a $426.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $402.38.

Home Depot Trading Up 0.5 %

Shares of NYSE:HD traded up $1.89 during trading on Wednesday, reaching $416.07. The stock had a trading volume of 3,626,349 shares, compared to its average volume of 3,394,703. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $420.03. The business has a fifty day moving average price of $375.22 and a 200-day moving average price of $356.30. The stock has a market cap of $412.58 billion, a P/E ratio of 27.82, a PEG ratio of 2.71 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts' consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the prior year, the company posted $4.65 EPS. The business's revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. 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 2.16%. Home Depot's payout ratio is 60.36%.

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.