Fortitude Family Office LLC Purchases 2,922 Shares of The Home Depot, Inc. (NYSE:HD)

Fortitude Family Office LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 110.9% in the third quarter, Holdings Channel reports. The fund owned 5,557 shares of the home improvement retailer’s stock after acquiring an additional 2,922 shares during the quarter. Home Depot accounts for 0.9% of Fortitude Family Office LLC’s portfolio, making the stock its 22nd largest holding. Fortitude Family Office LLC’s holdings in Home Depot were worth $2,252,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of HD. Fairway Wealth LLC bought a new position in Home Depot during the 2nd quarter worth $25,000. Kings Path Partners LLC bought a new position in Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC bought a new position in Home Depot during the 2nd quarter worth $40,000. Livelsberger Financial Advisory bought a new position in Home Depot during the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Home Depot during the 2nd quarter worth $47,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HD shares. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. Truist Financial raised their target price on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus lowered their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $413.48.

Home Depot Price Performance

HD stock opened at $395.10 on Wednesday. The company has a market capitalization of $391.79 billion, a P/E ratio of 26.50, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00. 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 Home Depot, Inc. has a 52-week low of $276.96 and a 52-week high of $421.56. The business has a 50-day simple moving average of $391.17 and a two-hundred day simple moving average of $360.80.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.65 EPS. Research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid 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 yield of 2.28%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Home Depot Company 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.