200,000 Shares in The Home Depot, Inc. (NYSE:HD) Bought by Dorsal Capital Management LP

Dorsal Capital Management LP acquired a new stake in The Home Depot, Inc. (NYSE:HD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 200,000 shares of the home improvement retailer’s stock, valued at approximately $68,848,000. Home Depot accounts for 2.4% of Dorsal Capital Management LP’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in HD. Fairway Wealth LLC acquired a new stake in shares of Home Depot during the second quarter worth $25,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $27,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot in the 2nd quarter worth $33,000. Burkett Financial Services LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $38,000. Finally, A.P. Gilfoyle & Co. L.P. acquired a new position in shares of Home Depot during the first quarter worth about $38,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.9 %

HD opened at $396.95 on Thursday. The firm has a market cap of $394.29 billion, a P/E ratio of 26.62, a PEG ratio of 2.71 and a beta of 1.00. The business’s fifty day simple moving average is $366.26 and its 200 day simple moving average is $354.42. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $401.11. The company has a quick ratio of 0.33, a current ratio of 1.15 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, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the company earned $4.65 EPS. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.27%. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HD. UBS Group lifted their price objective on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Stifel Nicolaus cut their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Loop Capital raised their target price on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a report on Tuesday, September 17th. Finally, Daiwa America raised shares of Home Depot to a “hold” rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $391.88.

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.