Cannon Financial Strategists Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cannon Financial Strategists Inc. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,926 shares of the home improvement retailer’s stock after selling 28 shares during the quarter. Home Depot comprises about 0.3% of Cannon Financial Strategists Inc.’s holdings, making the stock its 29th biggest holding. Cannon Financial Strategists Inc.’s holdings in Home Depot were worth $1,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fairway Wealth LLC bought a new position in shares of Home Depot during the 2nd quarter valued at $25,000. Kings Path Partners LLC purchased a new stake in Home Depot during the second quarter valued at $33,000. Denver PWM LLC bought a new position in Home Depot in the second quarter valued at about $40,000. Abich Financial Wealth Management LLC boosted its position in Home Depot by 68.0% in the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 51 shares during the last quarter. Finally, Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Home Depot during the 1st quarter valued at about $49,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HD shares. Royal Bank of Canada dropped their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. Evercore ISI cut their price objective 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. Oppenheimer upped their price objective on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Morgan Stanley lifted their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Melius Research began coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $409.12.

Home Depot Price Performance

Home Depot stock opened at $406.52 on Tuesday. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $421.56. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The firm’s fifty day moving average is $386.31 and its 200 day moving average is $358.83. The company has a market cap of $403.11 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.88 and a beta of 1.00.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business’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 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) 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.