Graypoint LLC Sells 2,306 Shares of The Home Depot, Inc. (NYSE:HD)

Graypoint LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 16.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,701 shares of the home improvement retailer’s stock after selling 2,306 shares during the period. Graypoint LLC’s holdings in Home Depot were worth $4,028,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ruedi Wealth Management Inc. raised its stake in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares in the last quarter. Cape Investment Advisory Inc. raised its position in shares of Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock worth $680,000 after acquiring an additional 28 shares in the last quarter. Acorn Creek Capital LLC lifted its stake in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock worth $291,000 after purchasing an additional 28 shares during the last quarter. STAR Financial Bank boosted its position in Home Depot by 0.7% during the fourth quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after purchasing an additional 29 shares in the last quarter. Finally, Talisman Wealth Advisors LLC grew its stake in Home Depot by 1.2% in the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HD has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Home Depot from $425.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday, May 9th. Stifel Nicolaus lowered their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. UBS Group upped their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. Finally, DA Davidson raised Home Depot from a “neutral” rating to a “buy” rating and upped their target price for the company from $352.00 to $395.00 in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $386.33.

Home Depot Stock Performance

Home Depot stock traded up $1.44 during mid-day trading on Friday, hitting $368.50. The company had a trading volume of 3,216,660 shares, compared to its average volume of 3,417,637. The company has a market capitalization of $365.41 billion, a price-to-earnings ratio of 24.71, 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. The company’s fifty day moving average is $355.21 and its 200-day moving average is $353.97. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the business posted $4.65 EPS. The business’s revenue was up .6% compared to the same quarter last year. Equities research analysts predict 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. Investors of record on Thursday, August 29th will be paid a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.44%. Home Depot’s dividend payout ratio is presently 60.36%.

Home Depot Company 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.