Kayne Anderson Rudnick Investment Management LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Kayne Anderson Rudnick Investment Management LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 16.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 113,669 shares of the home improvement retailer’s stock after selling 22,849 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Home Depot were worth $39,130,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Capital Research Global Investors lifted its position in shares of Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after buying an additional 992,444 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock valued at $3,046,485,000 after purchasing an additional 184,480 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Jennison Associates LLC increased its stake in shares of Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after purchasing an additional 333,312 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Loop Capital lifted their price target on Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Truist Financial lowered their target price on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. DA Davidson boosted their price objective 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, Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $389.04.

Home Depot Price Performance

Shares of HD opened at $389.86 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The company has a market cap of $386.59 billion, a P/E ratio of 26.15, a PEG ratio of 2.57 and a beta of 1.00. The firm’s 50 day moving average price is $364.95 and its 200 day moving average price is $354.28.

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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the firm earned $4.65 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Home Depot Company 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.