Brightwater Advisory LLC Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Brightwater Advisory LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,417 shares of the home improvement retailer’s stock after selling 50 shares during the period. Brightwater Advisory LLC’s holdings in Home Depot were worth $574,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HD. Fairway Wealth LLC acquired a new position in Home Depot during the second quarter worth $25,000. Kings Path Partners LLC acquired a new position in Home Depot in the 2nd quarter valued at $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot during the first quarter worth $38,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the fourth quarter valued at $39,000. Finally, Denver PWM LLC acquired a new position in Home Depot in the second quarter valued at $40,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HD shares. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Evercore ISI dropped their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the company from $360.00 to $460.00 in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $402.38.

Home Depot Price Performance

Shares of NYSE HD traded down $1.66 during mid-day trading on Wednesday, reaching $412.52. 1,477,347 shares of the company traded hands, compared to its average volume of 3,383,292. The stock has a fifty day simple moving average of $375.22 and a 200-day simple moving average of $356.30. 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 firm has a market cap of $409.06 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $420.03.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (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 firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the company earned $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 dividend yield of 2.18%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 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.