USA Financial Formulas Trims Position in The Home Depot, Inc. (NYSE:HD)

USA Financial Formulas lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 12.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 198 shares of the home improvement retailer’s stock after selling 27 shares during the quarter. USA Financial Formulas’ holdings in Home Depot were worth $80,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new position in shares of Home Depot in the second quarter worth $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the 2nd quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new stake in shares of Home Depot during the 1st quarter worth about $38,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $39,000. Finally, Denver PWM LLC acquired a new position in shares of Home Depot in the second quarter valued at approximately $40,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE HD opened at $410.00 on Friday. The company has a 50-day moving average price of $376.18 and a two-hundred day moving average price of $356.72. 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 $407.25 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $420.03.

Home Depot (NYSE:HD) last released its earnings results 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 net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the firm earned $4.65 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid 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 payout ratio is 60.57%.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. DA Davidson increased their price objective on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their target price for the stock from $360.00 to $460.00 in a research report on Wednesday. Guggenheim upped their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Finally, Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $402.38.

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.