The Home Depot, Inc. (NYSE:HD) Stock Position Cut by Strategic Advisors LLC

Strategic Advisors LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 4.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,389 shares of the home improvement retailer’s stock after selling 1,569 shares during the period. Home Depot comprises approximately 2.8% of Strategic Advisors LLC’s holdings, making the stock its 8th largest position. Strategic Advisors LLC’s holdings in Home Depot were worth $15,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HD. Fairway Wealth LLC purchased a new stake in Home Depot during the second quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the second quarter valued at $33,000. A.P. Gilfoyle & Co. L.P. bought a new stake in Home Depot during the first quarter valued at about $38,000. Livelsberger Financial Advisory bought a new stake in Home Depot during the fourth quarter valued at about $39,000. Finally, Denver PWM LLC purchased a new stake in Home Depot in the second quarter worth about $40,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Down 1.0 %

Home Depot stock traded down $4.30 during mid-day trading on Thursday, hitting $411.77. The company’s stock had a trading volume of 1,554,762 shares, compared to its average volume of 3,384,884. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $420.03. The stock has a market cap of $408.32 billion, a PE ratio of 27.59, a P/E/G ratio of 2.71 and a beta of 1.00. The company has a 50 day moving average of $376.18 and a 200-day moving average of $356.72. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $4.65 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared 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 2.19%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent research reports. UBS Group boosted their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Jefferies Financial Group assumed coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. DA Davidson increased their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Royal Bank of Canada lowered their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $402.38.

About Home Depot

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.