Main Street Group LTD Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Main Street Group LTD cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,385 shares of the home improvement retailer’s stock after selling 144 shares during the quarter. Main Street Group LTD’s holdings in Home Depot were worth $466,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Frank Rimerman Advisors LLC acquired a new stake in Home Depot in the 4th quarter valued at $27,000. Kings Path Partners LLC purchased a new stake in shares of Home Depot during the 2nd quarter valued at about $33,000. Burkett Financial Services LLC acquired a new position in Home Depot during the 4th quarter worth approximately $38,000. A.P. Gilfoyle & Co. L.P. purchased a new position in Home Depot in the 1st quarter worth approximately $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot in the 4th quarter worth approximately $39,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Evercore ISI reduced their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Wedbush reissued an “outperform” rating and issued a $410.00 price objective on shares of Home Depot in a research report on Friday, May 10th. Royal Bank of Canada dropped 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. JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, UBS Group lifted their price objective on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $387.79.

Home Depot Stock Performance

Shares of Home Depot stock traded down $1.80 during trading on Friday, hitting $360.05. 2,228,832 shares of the stock were exchanged, compared to its average volume of 3,406,975. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The stock’s fifty day moving average is $357.27 and its 200 day moving average is $354.10. The stock has a market cap of $357.03 billion, a PE ratio of 24.15, a P/E/G ratio of 2.55 and a beta of 0.98.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 EPS. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is presently 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.