Park Avenue Securities LLC Has $16.88 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Park Avenue Securities LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,650 shares of the home improvement retailer’s stock after selling 1,705 shares during the quarter. Park Avenue Securities LLC’s holdings in Home Depot were worth $16,877,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in shares of Home Depot in the 2nd quarter valued at $25,000. Frank Rimerman Advisors LLC bought a new position in Home Depot during the fourth quarter worth about $27,000. Kings Path Partners LLC acquired a new position in Home Depot in the second quarter valued at about $33,000. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Home Depot in the first quarter worth about $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $411.56 on Friday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $412.97. The firm has a market capitalization of $408.11 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 2.71 and a beta of 1.00. The stock’s 50 day moving average price is $372.30 and its two-hundred day moving average price is $356.14. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

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

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors 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 2.19%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HD shares. JPMorgan Chase & Co. boosted their price objective on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. UBS Group upped their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. Finally, Evercore ISI lowered their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $396.23.

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.