PFS Partners LLC Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

PFS Partners LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 9.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,522 shares of the home improvement retailer’s stock after selling 152 shares during the quarter. Home Depot comprises approximately 0.3% of PFS Partners LLC’s portfolio, making the stock its 27th biggest holding. PFS Partners LLC’s holdings in Home Depot were worth $617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of HD. Fairway Wealth LLC purchased a new position in shares of Home Depot during the 2nd quarter valued at about $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot in the second quarter worth approximately $33,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter worth $46,000. Denver PWM LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at $40,000. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 51 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

HD stock opened at $405.90 on Friday. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56. The firm has a market cap of $403.18 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 2.69 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The firm has a 50-day simple moving average of $395.19 and a two-hundred day simple moving average of $363.84.

Home Depot (NYSE:HD) last released its quarterly 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 net margin of 9.71% and a return on equity of 733.61%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the company earned $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HD shares. Morgan Stanley upped their price objective on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Wednesday, October 2nd. Finally, Melius Research started coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $420.04.

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.