The Home Depot, Inc. (NYSE:HD) Shares Sold by IMS Capital Management

IMS Capital Management trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,064 shares of the home improvement retailer’s stock after selling 262 shares during the quarter. Home Depot makes up approximately 1.5% of IMS Capital Management’s investment portfolio, making the stock its 12th largest position. IMS Capital Management’s holdings in Home Depot were worth $3,329,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Regency Capital Management Inc. DE boosted its holdings in Home Depot by 46.5% in the second quarter. Regency Capital Management Inc. DE now owns 4,048 shares of the home improvement retailer’s stock valued at $1,393,000 after purchasing an additional 1,285 shares in the last quarter. EP Wealth Advisors LLC lifted its position in shares of Home Depot by 1.4% during the 2nd quarter. EP Wealth Advisors LLC now owns 67,866 shares of the home improvement retailer’s stock valued at $23,362,000 after acquiring an additional 968 shares during the period. Kimelman & Baird LLC purchased a new stake in Home Depot during the second quarter worth $42,414,000. Kampmann Melissa S. boosted its stake in shares of Home Depot by 1.1% during the second quarter. Kampmann Melissa S. now owns 5,735 shares of the home improvement retailer’s stock valued at $1,974,000 after acquiring an additional 65 shares during the last quarter. Finally, Regal Investment Advisors LLC raised its position in shares of Home Depot by 7.5% in the second quarter. Regal Investment Advisors LLC now owns 5,777 shares of the home improvement retailer’s stock valued at $1,989,000 after buying an additional 401 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Up 1.4 %

HD opened at $405.02 on Tuesday. The company has a market capitalization of $401.62 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $405.31. The business has a 50-day moving average of $368.93 and a 200-day moving average of $355.11.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the firm earned $4.65 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is 60.36%.

Wall Street Analyst Weigh In

HD has been the topic of a number of research analyst reports. Loop Capital raised 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. Melius Research initiated coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Piper Sandler boosted their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group lifted 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 reduced their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $394.08.

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.