Concorde Asset Management LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Concorde Asset Management LLC raised its position in The Home Depot, Inc. (NYSE:HD) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,348 shares of the home improvement retailer’s stock after acquiring an additional 37 shares during the period. Concorde Asset Management LLC’s holdings in Home Depot were worth $464,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. WCG Wealth Advisors LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at approximately $3,858,000. AllGen Financial Advisors Inc. lifted its stake in shares of Home Depot by 64.2% during the second quarter. AllGen Financial Advisors Inc. now owns 2,301 shares of the home improvement retailer’s stock worth $792,000 after buying an additional 900 shares during the period. Miramar Capital LLC grew its holdings in shares of Home Depot by 0.4% during the second quarter. Miramar Capital LLC now owns 42,137 shares of the home improvement retailer’s stock valued at $14,505,000 after buying an additional 152 shares during the last quarter. Sienna Gestion raised its stake in Home Depot by 0.5% in the 2nd quarter. Sienna Gestion now owns 55,761 shares of the home improvement retailer’s stock worth $19,186,000 after acquiring an additional 255 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Home Depot by 2.5% during the second quarter. Blair William & Co. IL now owns 729,947 shares of the home improvement retailer’s stock worth $251,277,000 after purchasing an additional 18,039 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 14th. UBS Group boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Finally, Evercore ISI decreased their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $389.04.

Home Depot Price Performance

Home Depot stock opened at $384.13 on Thursday. The company has a fifty day simple moving average of $363.62 and a 200-day simple moving average of $354.13. 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 firm has a market capitalization of $380.91 billion, a price-to-earnings ratio of 25.76, a PEG ratio of 2.57 and a beta of 1.00. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The company 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%. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.34%. Home Depot’s dividend payout ratio is presently 60.36%.

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.