Bank Pictet & Cie Europe AG Boosts Position in The Home Depot, Inc. (NYSE:HD)

Bank Pictet & Cie Europe AG grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 21.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,639 shares of the home improvement retailer’s stock after acquiring an additional 2,075 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Home Depot were worth $4,716,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of HD. Fairway Wealth LLC bought a new stake in Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC bought a new stake in Home Depot in the second quarter valued at approximately $33,000. Denver PWM LLC bought a new stake in Home Depot in the second quarter valued at approximately $40,000. Livelsberger Financial Advisory bought a new stake in Home Depot in the third quarter valued at approximately $46,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Home Depot in the second quarter valued at approximately $47,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.5 %

Shares of NYSE:HD opened at $399.64 on Thursday. The company has a market cap of $396.29 billion, a P/E ratio of 26.80, a PEG ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The stock’s fifty day moving average price is $388.23 and its 200-day moving average price is $359.43.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating 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 the consensus estimate of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. Home Depot’s revenue was up .6% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date was 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 the company. Oppenheimer boosted their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Evercore ISI reduced their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Finally, Truist Financial upped their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

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.