The Home Depot, Inc. (NYSE:HD) Shares Sold by Commonwealth Financial Services LLC

Commonwealth Financial Services LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 3.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,499 shares of the home improvement retailer’s stock after selling 96 shares during the period. Commonwealth Financial Services LLC’s holdings in Home Depot were worth $849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. boosted its position in shares of Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot during the first quarter worth approximately $513,016,000. Capital Research Global Investors boosted its holdings in Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after buying an additional 992,444 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in 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 worth $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Finally, Swedbank AB bought a new position in shares of Home Depot in the first quarter valued at $301,364,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of NYSE HD opened at $389.86 on Monday. The business’s 50-day simple moving average is $364.95 and its 200-day simple moving average is $354.12. 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. The firm has a market cap of $386.59 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.57 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company posted $4.65 earnings per share. As a group, equities research analysts expect 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 declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders 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 (DPR) is 60.36%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HD. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Loop Capital boosted their price objective on Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a report on Tuesday, September 17th. Jefferies Financial Group started coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Evercore ISI dropped their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada reduced their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $389.04.

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.