The Home Depot, Inc. (NYSE:HD) Stock Position Lessened by Waverton Investment Management Ltd

Waverton Investment Management Ltd reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 55.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,491 shares of the home improvement retailer’s stock after selling 4,407 shares during the quarter. Waverton Investment Management Ltd’s holdings in Home Depot were worth $1,202,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HD. Hamel Associates Inc. raised its position in shares of Home Depot by 1.0% during the second quarter. Hamel Associates Inc. now owns 11,294 shares of the home improvement retailer’s stock worth $3,888,000 after purchasing an additional 111 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in Home Depot by 5.3% in the second quarter. Kornitzer Capital Management Inc. KS now owns 22,244 shares of the home improvement retailer’s stock worth $7,657,000 after buying an additional 1,120 shares during the last quarter. National Bank of Canada FI raised its position in Home Depot by 47.8% during the second quarter. National Bank of Canada FI now owns 1,160,179 shares of the home improvement retailer’s stock valued at $389,963,000 after acquiring an additional 375,239 shares in the last quarter. SouthState Corp grew its position in Home Depot by 10.5% in the second quarter. SouthState Corp now owns 61,022 shares of the home improvement retailer’s stock worth $21,006,000 after acquiring an additional 5,821 shares in the last quarter. Finally, Nottingham Advisors Inc. increased its stake in shares of Home Depot by 35.4% during the 2nd quarter. Nottingham Advisors Inc. now owns 1,147 shares of the home improvement retailer’s stock worth $395,000 after purchasing an additional 300 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HD shares. Wedbush reaffirmed an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research report on Friday, May 10th. DA Davidson raised their target price on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday. HSBC dropped their target price on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. Wells Fargo & Company lowered their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday, May 9th. Finally, Evercore ISI cut their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus target price of $387.79.

Home Depot Stock Performance

Shares of Home Depot stock opened at $361.85 on Friday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a 50 day simple moving average of $356.96 and a 200 day simple moving average of $354.11. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The firm has a market cap of $358.82 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.55 and a beta of 0.98.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company 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 681.27% and a net margin of 9.71%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.65 earnings per share. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be paid a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. Home Depot’s payout ratio is presently 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.