Van Cleef Asset Management Inc Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Van Cleef Asset Management Inc reduced its position in The Home Depot, Inc. (NYSE:HD) by 3.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,265 shares of the home improvement retailer’s stock after selling 530 shares during the period. Home Depot comprises about 0.7% of Van Cleef Asset Management Inc’s portfolio, making the stock its 26th biggest holding. Van Cleef Asset Management Inc’s holdings in Home Depot were worth $5,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $27,000. Kings Path Partners LLC acquired a new stake in Home Depot in the 2nd quarter valued at $33,000. Burkett Financial Services LLC purchased a new stake in Home Depot in the 4th quarter worth $38,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Home Depot during the first quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot during the fourth quarter valued at $39,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HD. Stifel Nicolaus cut their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Evercore ISI decreased their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. DA Davidson boosted their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group began coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $387.79.

Home Depot Trading Up 1.5 %

NYSE HD opened at $370.84 on Wednesday. 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 capitalization of $368.35 billion, a P/E ratio of 24.87, a PEG ratio of 2.49 and a beta of 1.00. The firm’s 50-day moving average is $358.58 and its two-hundred day moving average is $353.92. 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 released its quarterly earnings results 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 business 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 business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 EPS. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be paid 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 2.43%. Home Depot’s payout ratio 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.