Sterling Investment Advisors Ltd. Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Sterling Investment Advisors Ltd. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,550 shares of the home improvement retailer’s stock after selling 449 shares during the period. Home Depot comprises about 2.0% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 13th biggest position. Sterling Investment Advisors Ltd.’s holdings in Home Depot were worth $7,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. OMNI 360 Wealth Inc. increased its stake in Home Depot by 10.5% during the third quarter. OMNI 360 Wealth Inc. now owns 960 shares of the home improvement retailer’s stock worth $389,000 after purchasing an additional 91 shares during the period. J.W. Cole Advisors Inc. increased its stake in shares of Home Depot by 14.0% during the third quarter. J.W. Cole Advisors Inc. now owns 26,722 shares of the home improvement retailer’s stock worth $10,827,000 after buying an additional 3,273 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Home Depot by 5.9% during the third quarter. State of Alaska Department of Revenue now owns 115,975 shares of the home improvement retailer’s stock worth $46,992,000 after buying an additional 6,495 shares during the period. Valley National Advisers Inc. increased its stake in shares of Home Depot by 336.2% during the third quarter. Valley National Advisers Inc. now owns 5,479 shares of the home improvement retailer’s stock worth $2,219,000 after buying an additional 4,223 shares during the period. Finally, Financial Management Professionals Inc. increased its stake in shares of Home Depot by 1.9% during the third quarter. Financial Management Professionals Inc. now owns 2,121 shares of the home improvement retailer’s stock worth $859,000 after buying an additional 39 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent research reports. Melius Research initiated coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Stifel Nicolaus cut their target price 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. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their target price for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Thursday, September 12th. Finally, Royal Bank of Canada dropped their price target 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. One research 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 stock. According to MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $413.48.

Home Depot Price Performance

Shares of NYSE HD opened at $402.99 on Tuesday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The stock has a fifty day moving average price of $390.61 and a 200 day moving average price of $360.44. The Home Depot, Inc. has a 1-year low of $276.96 and a 1-year high of $421.56. The company has a market cap of $399.61 billion, a PE ratio of 27.03, a P/E/G ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last released its quarterly earnings data 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 firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business posted $4.65 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.23%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 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.