The Home Depot, Inc. (NYSE:HD) Shares Bought by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 44.9% during the second quarter, HoldingsChannel reports. The firm owned 32,600 shares of the home improvement retailer’s stock after purchasing an additional 10,100 shares during the quarter. Home Depot comprises about 2.6% of Avalon Global Asset Management LLC’s holdings, making the stock its 11th largest holding. Avalon Global Asset Management LLC’s holdings in Home Depot were worth $11,222,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research firms have recently weighed in on HD. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. Evercore ISI lowered their price objective on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Thursday, September 12th. Royal Bank of Canada decreased their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Finally, Loop Capital upped their price target on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average price target of $389.04.

Home Depot Stock Performance

Shares of NYSE HD opened at $389.97 on Friday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a market cap of $386.70 billion, a PE ratio of 26.15, a P/E/G ratio of 2.57 and a beta of 1.00. The stock has a 50 day simple moving average of $364.95 and a 200-day simple moving average of $354.45. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.31%. Home Depot’s 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.