Cetera Investment Advisers Decreases Position in The Home Depot, Inc. (NYSE:HD)

Cetera Investment Advisers lowered its position in The Home Depot, Inc. (NYSE:HD) by 4.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,249 shares of the home improvement retailer’s stock after selling 18,134 shares during the quarter. Cetera Investment Advisers’ holdings in Home Depot were worth $147,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors increased its position 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. Fisher Asset Management LLC boosted its stake in shares of Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock valued at $3,046,485,000 after acquiring an additional 184,480 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock valued at $2,931,328,000 after acquiring an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Home Depot by 15.0% during the 1st 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 purchasing an additional 971,833 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after purchasing an additional 138,396 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. 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. Royal Bank of Canada decreased their target price on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. UBS Group boosted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Finally, Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $394.08.

Home Depot Stock Performance

NYSE:HD opened at $405.02 on Tuesday. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $405.31. The firm has a market capitalization of $401.62 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.71 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm’s fifty day simple moving average is $368.93 and its 200 day simple moving average is $355.11.

Home Depot (NYSE:HD) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. The firm’s quarterly revenue was up .6% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Home Depot 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.