Beaton Management Co. Inc. Cuts Position in The Home Depot, Inc. (NYSE:HD)

Beaton Management Co. Inc. decreased its position in The Home Depot, Inc. (NYSE:HD) by 0.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,674 shares of the home improvement retailer’s stock after selling 46 shares during the period. Home Depot comprises approximately 1.8% of Beaton Management Co. Inc.’s portfolio, making the stock its 16th biggest holding. Beaton Management Co. Inc.’s holdings in Home Depot were worth $3,330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HD. Bridges Investment Management Inc. grew its holdings in Home Depot by 59.1% during the 2nd quarter. Bridges Investment Management Inc. now owns 117,911 shares of the home improvement retailer’s stock worth $40,590,000 after acquiring an additional 43,817 shares in the last quarter. Callan Capital LLC increased its stake in Home Depot by 4.9% during the 2nd quarter. Callan Capital LLC now owns 5,023 shares of the home improvement retailer’s stock valued at $1,729,000 after buying an additional 234 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Home Depot by 61.3% in the second quarter. Canada Pension Plan Investment Board now owns 849,599 shares of the home improvement retailer’s stock valued at $292,466,000 after buying an additional 322,800 shares during the period. Davidson Capital Management Inc. boosted its holdings in Home Depot by 22.0% during the second quarter. Davidson Capital Management Inc. now owns 9,042 shares of the home improvement retailer’s stock worth $3,113,000 after buying an additional 1,628 shares in the last quarter. Finally, Joseph Group Capital Management raised its position in shares of Home Depot by 20.0% during the second quarter. Joseph Group Capital Management now owns 9,255 shares of the home improvement retailer’s stock worth $3,186,000 after purchasing an additional 1,540 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $390.39 on Friday. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The stock has a market cap of $387.12 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 2.57 and a beta of 1.00. The stock’s 50-day moving average is $364.35 and its 200 day moving average is $354.38. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

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, 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 company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same quarter last year, the firm posted $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Loop Capital boosted their price objective on shares of Home Depot from $330.00 to $360.00 and gave the stock a “hold” rating in a research note on Tuesday. Evercore ISI decreased their target price 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. Daiwa America raised shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Truist Financial decreased their price target on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. One 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. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus 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.