Swedbank AB Cuts Position in The Home Depot, Inc. (NYSE:HD)

Swedbank AB decreased its position in The Home Depot, Inc. (NYSE:HD) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 776,563 shares of the home improvement retailer’s stock after selling 9,057 shares during the quarter. Swedbank AB owned 0.08% of Home Depot worth $267,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Bare Financial Services Inc purchased a new position in Home Depot in the fourth quarter worth about $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Home Depot in the 4th quarter worth approximately $27,000. Burkett Financial Services LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $38,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot during the 1st quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Home Depot in the fourth quarter worth $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.6 %

Shares of HD traded up $1.99 during trading hours on Friday, hitting $362.06. The company had a trading volume of 3,307,621 shares, compared to its average volume of 3,434,097. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company’s fifty day moving average price is $350.04 and its two-hundred day moving average price is $353.21. The company has a market capitalization of $359.02 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last announced 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 9.79% and a return on equity of 1,056.67%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the company posted $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be given a dividend of $2.25 per share. 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 60.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Telsey Advisory Group reissued a “market perform” rating and issued a $360.00 target price on shares of Home Depot in a research note on Tuesday. Truist Financial decreased their price objective on shares of Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a research note on Wednesday. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. HSBC decreased their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. Finally, JPMorgan Chase & Co. upped their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. One investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $384.00.

Home Depot Company 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.