Pegasus Asset Management Inc. Acquires 208 Shares of The Home Depot, Inc. (NYSE:HD)

Pegasus Asset Management Inc. grew its stake in The Home Depot, Inc. (NYSE:HD) by 4.4% in the 2nd quarter, Holdings Channel reports. The firm owned 4,908 shares of the home improvement retailer’s stock after purchasing an additional 208 shares during the period. Pegasus Asset Management Inc.’s holdings in Home Depot were worth $1,690,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Moss Adams Wealth Advisors LLC lifted its stake in Home Depot by 13.5% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 899 shares of the home improvement retailer’s stock valued at $312,000 after acquiring an additional 107 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. raised its holdings in Home Depot by 1,232.7% in the 4th quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 196,753 shares of the home improvement retailer’s stock worth $68,185,000 after purchasing an additional 181,990 shares during the period. Stanley Laman Group Ltd. purchased a new position in Home Depot during the fourth quarter valued at $306,000. K.J. Harrison & Partners Inc purchased a new position in shares of Home Depot during the 4th quarter valued at about $597,000. Finally, Kovack Advisors Inc. raised its stake in Home Depot by 10.5% during the 4th quarter. Kovack Advisors Inc. now owns 13,991 shares of the home improvement retailer’s stock worth $4,849,000 after acquiring an additional 1,328 shares during the period. 70.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HD has been the subject of a number of analyst reports. HSBC reduced their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. Loop Capital decreased their price target on Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Wedbush reiterated an “outperform” rating and set a $410.00 target price on shares of Home Depot in a research report on Friday, May 10th. Finally, UBS Group boosted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $386.33.

Home Depot Trading Down 0.4 %

Shares of HD stock traded down $1.60 during trading hours on Monday, hitting $373.99. The company had a trading volume of 2,450,138 shares, compared to its average volume of 3,440,526. The company’s fifty day moving average is $353.93 and its 200 day moving average is $353.66. The company has a debt-to-equity ratio of 23.11, a current ratio of 1.34 and a quick ratio of 0.42. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The stock has a market capitalization of $370.85 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the firm earned $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Research analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.41%. Home Depot’s payout ratio is 60.36%.

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.