First Eagle Investment Management LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

First Eagle Investment Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,347 shares of the home improvement retailer’s stock after selling 583 shares during the period. First Eagle Investment Management LLC’s holdings in Home Depot were worth $19,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Home Depot during the second quarter worth approximately $25,000. Frank Rimerman Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth $27,000. Kings Path Partners LLC purchased a new stake in Home Depot in the second quarter valued at $33,000. Burkett Financial Services LLC acquired a new position in Home Depot in the fourth quarter valued at $38,000. Finally, A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot during the first quarter worth about $38,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HD. UBS Group boosted their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. DA Davidson raised their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Truist Financial reduced their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Finally, Evercore ISI dropped their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $389.04.

Home Depot Stock Performance

Shares of HD opened at $384.13 on Thursday. The company has a market capitalization of $380.91 billion, a PE ratio of 25.76, a P/E/G ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a 50-day simple moving average of $363.62 and a 200-day simple moving average of $354.13. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) 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 analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company posted $4.65 earnings per share. Equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal 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 annualized dividend and a yield of 2.34%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

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.