Wealth Effects LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Wealth Effects LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,495 shares of the home improvement retailer’s stock after selling 101 shares during the period. Wealth Effects LLC’s holdings in Home Depot were worth $859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $27,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in Home Depot in the first quarter valued at about $38,000. Burkett Financial Services LLC purchased a new position in Home Depot in the fourth quarter worth $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot in the fourth quarter valued at $39,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock traded down $1.78 during mid-day trading on Wednesday, reaching $362.96. The company had a trading volume of 376,222 shares, compared to its average volume of 3,400,809. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock has a market capitalization of $359.92 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.55 and a beta of 0.98. 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 stock’s 50-day simple moving average is $356.09 and its two-hundred day simple moving average is $353.98.

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. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the firm posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Analyst Ratings Changes

A number of brokerages recently commented on HD. StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. TD Cowen dropped their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. DA Davidson upped their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup lowered their target price on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Finally, Wells Fargo & Company cut their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $387.79.

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.