Financial Insights Inc. Sells 1,230 Shares of The Home Depot, Inc. (NYSE:HD)

Financial Insights Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 39.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,866 shares of the home improvement retailer’s stock after selling 1,230 shares during the quarter. Financial Insights Inc.’s holdings in Home Depot were worth $756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wulff Hansen & CO. lifted its position in Home Depot by 33,540.9% during the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after purchasing an additional 1,474,459 shares during the period. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot in the first quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD lifted its stake in Home Depot by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares during the period. Swedbank AB bought a new position in Home Depot during the first quarter worth about $301,364,000. Finally, Jennison Associates LLC boosted its stake in Home Depot by 13.1% during the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on HD. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research note on Monday, August 5th. DA Davidson lifted their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley boosted their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer increased their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a report on Tuesday, September 24th. Finally, Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

Home Depot Trading Down 0.5 %

Shares of HD stock opened at $399.64 on Thursday. The stock has a market cap of $396.29 billion, a P/E ratio of 26.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. 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 stock has a 50 day simple moving average of $388.23 and a 200 day simple moving average of $359.43. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings results 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 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 for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 earnings per share. On average, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given 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 2.25%. Home Depot’s dividend payout ratio is 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.