Brighton Jones LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Brighton Jones LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 14.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,715 shares of the home improvement retailer’s stock after selling 3,354 shares during the quarter. Brighton Jones LLC’s holdings in Home Depot were worth $7,988,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after purchasing an additional 5,879 shares during the period. Empirical Finance LLC grew its holdings in Home Depot by 3.3% in the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock valued at $14,242,000 after buying an additional 1,195 shares during the period. Pegasus Asset Management Inc. increased its stake in shares of Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the last quarter. Commonwealth Retirement Investments LLC lifted its holdings in shares of Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after acquiring an additional 965 shares during the period. Finally, Swedbank AB boosted its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after acquiring an additional 132,967 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Guggenheim increased their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Melius Research began coverage on Home Depot in a research note on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $410.67.

Home Depot Stock Performance

Shares of Home Depot stock opened at $402.40 on Friday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56. The firm’s 50-day simple moving average is $388.23 and its 200-day simple moving average is $359.43. The firm has a market cap of $399.03 billion, a PE ratio of 26.99, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 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.