Magnolia Capital Advisors LLC Invests $159.37 Million in The Home Depot, Inc. (NYSE:HD)

Magnolia Capital Advisors LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) in the second quarter, Holdings Channel reports. The fund purchased 462,946 shares of the home improvement retailer’s stock, valued at approximately $159,365,000. Home Depot accounts for approximately 5.6% of Magnolia Capital Advisors LLC’s investment portfolio, making the stock its 4th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HD. Fairway Wealth LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at about $25,000. Frank Rimerman Advisors LLC acquired a new position in Home Depot in the fourth quarter valued at approximately $27,000. Kings Path Partners LLC acquired a new position in Home Depot in the second quarter valued at approximately $33,000. A.P. Gilfoyle & Co. L.P. bought a new position in shares of Home Depot during the first quarter valued at approximately $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $39,000. 70.86% of the stock is owned by institutional investors.

Home Depot Price Performance

Shares of NYSE:HD opened at $399.53 on Friday. The company has a market capitalization of $396.18 billion, a PE ratio of 26.80, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a fifty day moving average of $368.10 and a 200-day moving average of $355.07. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $403.54.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating 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 return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.65 earnings per share. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

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

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price objective on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Jefferies Financial Group initiated coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price objective on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Oppenheimer raised their price target on shares of Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research note on Tuesday, September 24th. Finally, Royal Bank of Canada cut their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target 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.