The Home Depot, Inc. (NYSE:HD) Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its position in The Home Depot, Inc. (NYSE:HD) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,659 shares of the home improvement retailer’s stock after selling 205 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Home Depot were worth $7,561,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its position in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after acquiring an additional 8,762,735 shares during the last quarter. Legal & General Group Plc grew its position in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after purchasing an additional 100,139 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake 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 valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Ameriprise Financial Inc. increased its stake in Home Depot by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after purchasing an additional 138,396 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Home Depot by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after buying an additional 333,312 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Up 1.6 %

NYSE:HD opened at $405.90 on Friday. The Home Depot, Inc. has a 52-week low of $286.79 and a 52-week high of $421.56. 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 stock has a fifty day simple moving average of $395.19 and a 200-day simple moving average of $363.84. The company has a market capitalization of $403.18 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01.

Home Depot (NYSE:HD) last announced 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. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, equities 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 announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.57%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HD shares. JPMorgan Chase & Co. raised their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a report on Tuesday, September 24th. Finally, DA Davidson boosted their price objective on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $420.04.

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.