Ingalls & Snyder LLC Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Ingalls & Snyder LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 0.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,505 shares of the home improvement retailer’s stock after selling 396 shares during the quarter. Home Depot comprises about 1.1% of Ingalls & Snyder LLC’s investment portfolio, making the stock its 17th biggest position. Ingalls & Snyder LLC’s holdings in Home Depot were worth $26,680,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in Home Depot during the fourth quarter valued at $4,311,070,000. Alphinity Investment Management Pty Ltd purchased a new stake in shares of Home Depot during the 1st quarter valued at about $513,016,000. Capital Research Global Investors lifted its holdings in shares of Home Depot by 7.2% in the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Finally, Swedbank AB bought a new stake in Home Depot during the first quarter worth approximately $301,364,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.4 %

Shares of Home Depot stock opened at $368.50 on Friday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a market cap of $366.03 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.55 and a beta of 0.98. The firm’s 50-day moving average is $355.21 and its two-hundred day moving average is $353.95. 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 released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The firm 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 9.71% and a return on equity of 681.27%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $4.65 earnings per share. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share 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. Stockholders of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.44%. Home Depot’s dividend payout ratio is presently 60.36%.

Analysts Set New Price Targets

A number of brokerages have recently commented on HD. Royal Bank of Canada cut their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. UBS Group increased their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. Finally, Loop Capital reduced their price objective on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. One equities research 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. According to data from MarketBeat, 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.