Pallas Capital Advisors LLC Buys 710 Shares of The Home Depot, Inc. (NYSE:HD)

Pallas Capital Advisors LLC grew its stake in The Home Depot, Inc. (NYSE:HD) by 46.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,239 shares of the home improvement retailer’s stock after buying an additional 710 shares during the period. Pallas Capital Advisors LLC’s holdings in Home Depot were worth $820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in HD. Bare Financial Services Inc purchased a new stake in shares of Home Depot in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the fourth quarter worth $27,000. Burkett Financial Services LLC bought a new position in shares of Home Depot during the fourth quarter worth $38,000. A.P. Gilfoyle & Co. L.P. purchased a new position in Home Depot during the first quarter valued at $38,000. Finally, Livelsberger Financial Advisory bought a new stake in Home Depot in the 4th quarter valued at $39,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HD. Royal Bank of Canada cut their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. UBS Group lifted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and increased their target price for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. TD Cowen reduced their price target on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Finally, Jefferies Financial Group initiated coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Stock Up 0.8 %

Home Depot stock traded up $2.73 during trading hours on Tuesday, reaching $365.80. The stock had a trading volume of 1,678,856 shares, compared to its average volume of 3,424,413. The company has a market cap of $362.73 billion, a price-to-earnings ratio of 24.50, a PEG ratio of 2.48 and a beta of 0.98. The business’s 50 day moving average price is $351.35 and its 200-day moving average price is $353.25. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The business 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 1,056.67% and a net margin of 9.79%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company earned $4.65 earnings per share. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.