SP Asset Management LLC Trims Holdings in The Home Depot, Inc. (NYSE:HD)

SP Asset Management LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,842 shares of the home improvement retailer’s stock after selling 2,332 shares during the period. Home Depot accounts for about 1.4% of SP Asset Management LLC’s investment portfolio, making the stock its 19th largest position. SP Asset Management LLC’s holdings in Home Depot were worth $15,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Frank Rimerman Advisors LLC purchased a new position in Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC acquired a new position in shares of Home Depot during the 2nd quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. purchased a new position in shares of Home Depot during the 1st quarter worth about $38,000. Burkett Financial Services LLC acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new stake in Home Depot in the fourth quarter valued at approximately $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 1.5 %

Shares of HD opened at $370.84 on Wednesday. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock has a 50-day moving average price of $358.58 and a 200 day moving average price of $353.92. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company has a market capitalization of $368.35 billion, a P/E ratio of 24.87, a P/E/G ratio of 2.49 and a beta of 1.00.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 EPS. Sell-side analysts forecast 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 will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Analysts Set New Price Targets

A number of research firms have weighed in on HD. Loop Capital cut their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a report on Tuesday, August 13th. Raymond James reissued a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Finally, HSBC reduced their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price 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.