Distillate Capital Partners LLC Takes $37.46 Million Position in The Home Depot, Inc. (NYSE:HD)

Distillate Capital Partners LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 108,813 shares of the home improvement retailer’s stock, valued at approximately $37,458,000. Home Depot comprises 2.0% of Distillate Capital Partners LLC’s portfolio, making the stock its 6th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth $25,000. Frank Rimerman Advisors LLC bought a new position in Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC bought a new position in Home Depot during the second quarter worth about $33,000. Burkett Financial Services LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $38,000. Finally, A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Home Depot in the 1st quarter valued at about $38,000. 70.86% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HD shares. Melius Research began coverage on Home Depot in a report on Monday. They set a “buy” rating and a $420.00 target price on the stock. Jefferies Financial Group initiated coverage on Home Depot in a research report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price objective on shares of Home Depot in a research report on Thursday, September 12th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $390.28.

Home Depot Price Performance

Shares of NYSE HD opened at $391.96 on Tuesday. 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 business’s 50 day moving average price is $365.62 and its two-hundred day moving average price is $354.23. The company has a market cap of $388.67 billion, a PE ratio of 26.29, a price-to-earnings-growth ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. During the same period in the prior year, the firm earned $4.65 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

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.