The Home Depot, Inc. (NYSE:HD) Shares Purchased by Cannon Financial Strategists Inc.

Cannon Financial Strategists Inc. raised its stake in The Home Depot, Inc. (NYSE:HD) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,957 shares of the home improvement retailer’s stock after acquiring an additional 31 shares during the quarter. Cannon Financial Strategists Inc.’s holdings in Home Depot were worth $1,539,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at approximately $28,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter valued at approximately $41,000. Sugar Maple Asset Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $41,000. Finally, Finley Financial LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $59,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the subject of several research analyst reports. Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. DA Davidson upped their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Truist Financial upped their target price on Home Depot from $465.00 to $467.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $433.44.

Home Depot Stock Performance

Shares of Home Depot stock opened at $394.77 on Thursday. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The business’s fifty day simple moving average is $403.17 and its 200-day simple moving average is $397.01. The firm has a market cap of $392.15 billion, a PE ratio of 26.82, a price-to-earnings-growth ratio of 4.18 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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.