Magnus Financial Group LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Magnus Financial Group LLC boosted its stake in The Home Depot, Inc. (NYSE:HD) by 4.3% during the second quarter, HoldingsChannel reports. The firm owned 5,391 shares of the home improvement retailer’s stock after buying an additional 221 shares during the period. Magnus Financial Group LLC’s holdings in Home Depot were worth $1,856,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter worth approximately $4,311,070,000. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot in the first quarter worth $513,016,000. Capital Research Global Investors boosted 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 buying an additional 992,444 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 buying an additional 971,833 shares during the last quarter. Finally, Swedbank AB purchased a new position in shares of Home Depot in the first quarter worth about $301,364,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group increased their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada dropped their price objective 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. Jefferies Financial Group assumed coverage on shares of Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price on the stock. DA Davidson upped their price target on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday. Finally, HSBC cut their price target on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $387.79.

Home Depot Stock Down 0.3 %

Shares of NYSE:HD traded down $1.20 during midday trading on Tuesday, reaching $367.30. The company’s stock had a trading volume of 878,416 shares, compared to its average volume of 3,402,614. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The firm has a 50 day moving average of $355.57 and a 200-day moving average of $353.97. The firm has a market capitalization of $364.22 billion, a P/E ratio of 24.59, a PEG ratio of 2.55 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 announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.45%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) 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.