Dynamic Advisor Solutions LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,359 shares of the home improvement retailer’s stock after selling 168 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in The Home Depot were worth $7,449,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of HD. Providence Capital Advisors LLC boosted its holdings in The Home Depot by 2.2% during the 2nd quarter. Providence Capital Advisors LLC now owns 15,783 shares of the home improvement retailer’s stock valued at $5,033,000 after acquiring an additional 343 shares during the period. Clark Capital Management Group Inc. boosted its holdings in The Home Depot by 3.3% during the 2nd quarter. Clark Capital Management Group Inc. now owns 99,872 shares of the home improvement retailer’s stock valued at $31,848,000 after acquiring an additional 3,213 shares during the period. LaFleur & Godfrey LLC boosted its holdings in The Home Depot by 490.0% during the 2nd quarter. LaFleur & Godfrey LLC now owns 13,812 shares of the home improvement retailer’s stock valued at $4,405,000 after acquiring an additional 11,471 shares during the period. GW Henssler & Associates Ltd. boosted its holdings in The Home Depot by 4.7% during the 2nd quarter. GW Henssler & Associates Ltd. now owns 25,494 shares of the home improvement retailer’s stock valued at $8,130,000 after acquiring an additional 1,156 shares during the period. Finally, Frisch Financial Group Inc. boosted its holdings in The Home Depot by 11.3% during the 1st quarter. Frisch Financial Group Inc. now owns 7,347 shares of the home improvement retailer’s stock valued at $2,243,000 after acquiring an additional 748 shares during the period. 68.97% of the stock is owned by hedge funds and other institutional investors.
HD has been the subject of a number of research analyst reports. Raymond James raised their target price on The Home Depot from $350.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, August 16th. Royal Bank of Canada lifted their price objective on The Home Depot from $377.00 to $386.00 and gave the company an “outperform” rating in a research note on Wednesday, May 19th. Zacks Investment Research cut The Home Depot from a “strong-buy” rating to a “hold” rating and set a $338.00 price objective for the company. in a research note on Tuesday, July 20th. Morgan Stanley lifted their price objective on The Home Depot from $340.00 to $345.00 and gave the company an “overweight” rating in a research note on Monday, May 24th. Finally, OTR Global cut The Home Depot to a “positive” rating in a research note on Tuesday, August 10th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $339.52.
Shares of The Home Depot stock traded down $0.94 during trading on Wednesday, reaching $332.18. The company’s stock had a trading volume of 60,970 shares, compared to its average volume of 3,967,680. The company has a quick ratio of 0.35, a current ratio of 1.06 and a debt-to-equity ratio of 16.31. The Home Depot, Inc. has a 12-month low of $246.59 and a 12-month high of $345.69. The company has a market capitalization of $350.57 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. The business has a 50 day moving average price of $327.20 and a 200-day moving average price of $314.96.
The Home Depot (NYSE:HD) last posted its quarterly earnings results on Monday, August 16th. The home improvement retailer reported $4.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.43 by $0.10. The Home Depot had a return on equity of 709.19% and a net margin of 10.55%. The firm had revenue of $41.12 billion for the quarter, compared to the consensus estimate of $40.74 billion. During the same period in the previous year, the business earned $4.02 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 14.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 16th. Shareholders of record on Thursday, September 2nd will be given a dividend of $1.65 per share. The ex-dividend date is Wednesday, September 1st. This represents a $6.60 dividend on an annualized basis and a yield of 1.99%. The Home Depot’s payout ratio is 54.86%.
The Home Depot declared that its board has approved a stock buyback plan on Thursday, May 20th that allows the company to repurchase $20.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
The Home Depot Company Profile
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD).
Receive News & Ratings for The Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.