Gilliland Jeter Wealth Management LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Gilliland Jeter Wealth Management LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 11.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,901 shares of the home improvement retailer’s stock after selling 241 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Home Depot were worth $654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in Home Depot during the 4th quarter worth about $4,311,070,000. Alphinity Investment Management Pty Ltd acquired a new stake in Home Depot during the first quarter worth about $513,016,000. Capital Research Global Investors raised its position in Home Depot by 7.2% during the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Home Depot by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Finally, Swedbank AB acquired a new position in Home Depot in the first quarter valued at approximately $301,364,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Up 2.8 %

Shares of NYSE HD traded up $10.23 during trading on Friday, hitting $375.59. 3,426,154 shares of the company were exchanged, compared to its average volume of 3,446,290. The company has a fifty day moving average price of $353.44 and a 200-day moving average price of $353.67. The company has a debt-to-equity ratio of 23.11, a quick ratio of 0.42 and a current ratio of 1.34. The firm has a market capitalization of $372.44 billion, a PE ratio of 25.19, a P/E/G ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last issued 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. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.65 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.28 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HD. DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and lifted their target price for the company from $352.00 to $395.00 in a report on Wednesday, June 26th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. HSBC cut 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. Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, Evercore ISI dropped their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $386.33.

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.