Asset Dedication LLC Sells 72 Shares of The Home Depot, Inc. (NYSE:HD)

Asset Dedication LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,770 shares of the home improvement retailer’s stock after selling 72 shares during the quarter. Asset Dedication LLC’s holdings in Home Depot were worth $6,117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Strategic Financial Concepts LLC increased its stake in shares of Home Depot by 17,262.8% in the second quarter. Strategic Financial Concepts LLC now owns 383,717 shares of the home improvement retailer’s stock worth $1,321,000 after purchasing an additional 381,507 shares during the period. Umpqua Bank raised its stake in Home Depot by 4.1% during the 2nd quarter. Umpqua Bank now owns 5,092 shares of the home improvement retailer’s stock valued at $1,753,000 after purchasing an additional 201 shares during the last quarter. Parcion Private Wealth LLC boosted its holdings in Home Depot by 3.1% in the 2nd quarter. Parcion Private Wealth LLC now owns 15,383 shares of the home improvement retailer’s stock valued at $5,295,000 after purchasing an additional 467 shares during the period. Stonebrook Private Inc. grew its position in Home Depot by 7.5% in the 2nd quarter. Stonebrook Private Inc. now owns 13,564 shares of the home improvement retailer’s stock worth $4,669,000 after purchasing an additional 950 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Home Depot by 251.8% during the 2nd quarter. SRS Capital Advisors Inc. now owns 3,047 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 2,181 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD opened at $360.05 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 Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The stock’s fifty day moving average price is $357.27 and its two-hundred day moving average price is $354.04. The firm has a market cap of $357.03 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.55 and a beta of 1.00.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.65 EPS. On average, equities analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.50%. Home Depot’s payout ratio is 60.36%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HD shares. StockNews.com downgraded Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Tuesday, August 13th. Loop Capital dropped their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Finally, Stifel Nicolaus decreased their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

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.