Steel Grove Capital Advisors LLC Sells 7,026 Shares of The Home Depot, Inc. (NYSE:HD)

Steel Grove Capital Advisors LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 83.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,420 shares of the home improvement retailer’s stock after selling 7,026 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Home Depot were worth $489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HD. Empirical Finance LLC lifted its stake in shares of Home Depot by 3.3% in the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after buying an additional 1,195 shares during the last quarter. Commonwealth Retirement Investments LLC raised its holdings in Home Depot by 5.5% in 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. Leeward Financial Partners LLC lifted its position in Home Depot by 7.3% during the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after acquiring an additional 711 shares during the last quarter. Sanibel Captiva Trust Company Inc. bought a new stake in Home Depot during the fourth quarter valued at about $88,708,000. Finally, Johnson & White Wealth Management LLC increased its stake in shares of Home Depot by 6.2% in the first quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock worth $1,611,000 after purchasing an additional 247 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $389.86 on Monday. The firm’s 50 day moving average price is $364.95 and its two-hundred day moving average price is $354.12. The stock has a market cap of $386.59 billion, a PE ratio of 26.15, a PEG 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 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 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the firm earned $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. UBS Group increased their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. 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 report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $389.04.

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.