Jacobsen Capital Management Cuts Position in The Home Depot, Inc. (NYSE:HD)

Jacobsen Capital Management cut its stake in The Home Depot, Inc. (NYSE:HD) by 3.8% during the third quarter, HoldingsChannel reports. The fund owned 2,330 shares of the home improvement retailer’s stock after selling 92 shares during the quarter. Home Depot comprises about 0.4% of Jacobsen Capital Management’s holdings, making the stock its 24th largest position. Jacobsen Capital Management’s holdings in Home Depot were worth $944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Texas Capital Bank Wealth Management Services Inc grew its stake in Home Depot by 27.6% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock worth $9,348,000 after buying an additional 5,879 shares during the last quarter. Empirical Finance LLC grew its stake in Home Depot by 3.3% during the 1st quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after buying an additional 1,195 shares during the last quarter. Pegasus Asset Management Inc. grew its stake in Home Depot by 1.8% during the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares during the last quarter. Commonwealth Retirement Investments LLC grew its stake in Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares during the last quarter. Finally, Swedbank AB grew its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE HD opened at $392.60 on Thursday. The Home Depot, Inc. has a twelve month low of $281.61 and a twelve month high of $421.56. The stock has a 50-day moving average of $391.61 and a 200 day moving average of $361.03. 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 capitalization of $389.31 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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 return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the business earned $4.65 EPS. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.29%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HD shares. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Melius Research started coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price target for the company. Sanford C. Bernstein started coverage on Home Depot in a research report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price target for the company. Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.