Bellwether Advisors LLC Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Bellwether Advisors LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 86.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,115 shares of the home improvement retailer’s stock after selling 7,055 shares during the quarter. Bellwether Advisors LLC’s holdings in Home Depot were worth $384,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HD. Capital Research Global Investors raised its position in shares of Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after acquiring an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Home Depot by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after purchasing an additional 347,614 shares during the last quarter. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth about $4,311,070,000. Fisher Asset Management LLC raised its position in shares of Home Depot by 2.1% during the 4th quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after purchasing an additional 184,480 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.4 %

NYSE:HD traded up $1.44 during midday trading on Friday, hitting $368.50. 3,216,660 shares of the company were exchanged, compared to its average volume of 3,501,517. The company has a fifty day simple moving average of $355.21 and a 200 day simple moving average of $353.95. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. 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 company has a market capitalization of $366.03 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the business earned $4.65 EPS. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.44%. Home Depot’s dividend payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a report on Tuesday, August 13th. Evercore ISI dropped their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus lowered their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Citigroup lowered their price objective on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th. Finally, DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.33.

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.