Ade LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Ade LLC trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 7.6% during the third quarter, HoldingsChannel reports. The firm owned 1,451 shares of the home improvement retailer’s stock after selling 120 shares during the period. Ade LLC’s holdings in Home Depot were worth $588,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new position in Home Depot in the second quarter valued at approximately $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Denver PWM LLC purchased a new position in shares of Home Depot during the 2nd quarter worth $40,000. Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the 3rd quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot in the 2nd quarter valued at about $47,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE HD opened at $393.80 on Friday. The company has a fifty day moving average of $392.17 and a two-hundred day moving average of $361.25. The company has a market capitalization of $390.50 billion, a PE ratio of 26.41, a P/E/G ratio of 2.78 and a beta of 1.00. 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 Home Depot, Inc. has a 1 year low of $281.61 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 earnings per share. As a group, analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HD. Evercore ISI dropped their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. DA Davidson lifted their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their price objective for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $413.48.

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.