Narwhal Capital Management Purchases 2,693 Shares of The Home Depot, Inc. (NYSE:HD)

Narwhal Capital Management lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,497 shares of the home improvement retailer’s stock after purchasing an additional 2,693 shares during the period. Home Depot comprises 2.2% of Narwhal Capital Management’s investment portfolio, making the stock its 12th largest holding. Narwhal Capital Management’s holdings in Home Depot were worth $24,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. West Paces Advisors Inc. raised its stake in shares of Home Depot by 1.3% during the first quarter. West Paces Advisors Inc. now owns 13,708 shares of the home improvement retailer’s stock valued at $5,258,000 after acquiring an additional 174 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Home Depot by 5.7% in the first quarter. Sound Income Strategies LLC now owns 3,358 shares of the home improvement retailer’s stock valued at $1,288,000 after purchasing an additional 181 shares during the period. Disciplined Investments LLC bought a new position in shares of Home Depot during the first quarter worth about $215,000. IAM Advisory LLC raised its holdings in Home Depot by 3.8% during the 1st quarter. IAM Advisory LLC now owns 1,336 shares of the home improvement retailer’s stock worth $513,000 after purchasing an additional 49 shares during the last quarter. Finally, CFM Wealth Partners LLC raised its stake in Home Depot by 8.4% during the first quarter. CFM Wealth Partners LLC now owns 16,619 shares of the home improvement retailer’s stock worth $6,375,000 after buying an additional 1,281 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $399.64 on Thursday. The stock has a 50 day moving average of $388.23 and a 200 day moving average of $359.43. The company has a market capitalization of $396.29 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% compared to the same quarter last year. During the same period last year, the firm posted $4.65 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Oppenheimer lifted their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. DA Davidson lifted their target price on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. UBS Group increased their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.