Verus Capital Partners LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Verus Capital Partners LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,121 shares of the home improvement retailer’s stock after selling 141 shares during the period. Verus Capital Partners LLC’s holdings in Home Depot were worth $2,480,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth about $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth approximately $33,000. Denver PWM LLC acquired a new position in Home Depot during the second quarter worth approximately $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the third quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the second quarter valued at approximately $47,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Up 0.6 %

Shares of Home Depot stock opened at $408.29 on Tuesday. The company has a 50-day moving average of $395.99 and a two-hundred day moving average of $364.77. The Home Depot, Inc. has a 12-month low of $287.24 and a 12-month high of $421.56. 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 stock has a market cap of $405.55 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 2.81 and a beta of 1.01.

Home Depot (NYSE:HD) last released 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. The firm had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $4.65 EPS. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 60.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HD shares. DA Davidson lifted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Morgan Stanley lifted their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Evercore ISI reduced their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Barclays raised their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Melius Research started coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $422.81.

About Home Depot

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.