Boston Financial Mangement LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Boston Financial Mangement LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,440 shares of the home improvement retailer’s stock after selling 833 shares during the period. Boston Financial Mangement LLC’s holdings in Home Depot were worth $19,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC increased its stake in Home Depot by 51,250.1% in the 3rd 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 buying an additional 8,762,735 shares in the last quarter. Wulff Hansen & CO. increased its stake in Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock worth $509,081,000 after buying an additional 1,474,459 shares in the last quarter. Alphinity Investment Management Pty Ltd purchased a new stake in Home Depot in the 1st quarter worth $513,016,000. Price T Rowe Associates Inc. MD increased its stake in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after buying an additional 971,833 shares in the last quarter. Finally, Swedbank AB purchased a new stake in Home Depot in the 1st quarter worth $301,364,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 1.9 %

Shares of NYSE:HD opened at $395.10 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 12 month low of $276.96 and a 12 month high of $421.56. The company has a 50-day moving average price of $391.17 and a 200 day moving average price of $360.80. The company has a market cap of $391.79 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during 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 firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm earned $4.65 earnings per share. As a group, equities research analysts predict 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 was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HD shares. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Daiwa America upgraded Home Depot to a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group assumed coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target for the company. Finally, UBS Group increased their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $413.48.

Home Depot 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.