The Home Depot, Inc. (NYSE:HD) Holdings Boosted by Canal Capital Management LLC

Canal Capital Management LLC raised its stake in The Home Depot, Inc. (NYSE:HD) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,768 shares of the home improvement retailer’s stock after acquiring an additional 396 shares during the period. Canal Capital Management LLC’s holdings in Home Depot were worth $5,428,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in HD. Capital Research Global Investors lifted its position in Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after purchasing an additional 992,444 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Home Depot by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock valued at $4,540,197,000 after purchasing an additional 347,614 shares during the period. Norges Bank bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $4,311,070,000. Fisher Asset Management LLC boosted its position in shares of Home Depot by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after buying an additional 195,670 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings 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. 70.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group increased their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Evercore ISI decreased their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. HSBC reduced their price target on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. Finally, Stifel Nicolaus lowered their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.33.

Home Depot Price Performance

HD stock opened at $368.50 on Friday. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm has a 50-day moving average of $355.21 and a two-hundred day moving average of $353.97. The firm has a market capitalization of $366.03 billion, a PE ratio of 24.71, a P/E/G ratio of 2.55 and a beta of 0.98. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

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. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same quarter in the previous year, the business earned $4.65 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be issued 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 2.44%. Home Depot’s payout ratio is currently 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.