Ceredex Value Advisors LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Ceredex Value Advisors LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 34.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 118,538 shares of the home improvement retailer’s stock after selling 61,745 shares during the period. Ceredex Value Advisors LLC’s holdings in Home Depot were worth $48,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abacus Wealth Partners LLC raised its position in Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased its stake in Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares during the period. Ruedi Wealth Management Inc. boosted its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after purchasing an additional 27 shares during the period. Acorn Creek Capital LLC boosted its stake in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the period. Finally, Consolidated Portfolio Review Corp increased its stake in Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock worth $617,000 after buying an additional 28 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.3 %

Shares of NYSE:HD opened at $392.59 on Friday. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two week high of $421.56. 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 firm’s 50-day simple moving average is $392.51 and its 200-day simple moving average is $361.82. The company has a market cap of $389.96 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.73 and a beta of 1.01.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. The firm’s quarterly revenue was up .6% on a year-over-year basis. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HD. JPMorgan Chase & Co. boosted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Guggenheim boosted their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. DA Davidson increased their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Melius Research began coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Finally, Royal Bank of Canada decreased their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.48.

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.