Financial Counselors Inc. Sells 3,218 Shares of The Home Depot, Inc. (NYSE:HD)

Financial Counselors Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,620 shares of the home improvement retailer’s stock after selling 3,218 shares during the quarter. Financial Counselors Inc.’s holdings in Home Depot were worth $47,374,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $27,000. Kings Path Partners LLC bought a new stake in shares of Home Depot in the second quarter worth $33,000. Burkett Financial Services LLC acquired a new stake in Home Depot in the fourth quarter valued at $38,000. A.P. Gilfoyle & Co. L.P. bought a new position in Home Depot during the 1st quarter worth $38,000. Finally, Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 4th quarter valued at about $39,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on HD shares. Citigroup lowered their price target on shares of Home Depot from $415.00 to $395.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Loop Capital decreased their price target on Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Royal Bank of Canada decreased their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $386.33.

Home Depot Stock Up 0.4 %

HD stock opened at $368.50 on Monday. The company’s 50 day moving average is $355.21 and its 200 day moving average is $353.92. The stock has a market cap of $366.03 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. 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 Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the company posted $4.65 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be given a dividend of $2.25 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.44%. Home Depot’s payout ratio is 60.36%.

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.