SOL Capital Management CO Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

SOL Capital Management CO decreased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,490 shares of the home improvement retailer’s stock after selling 190 shares during the quarter. SOL Capital Management CO’s holdings in Home Depot were worth $5,466,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in HD. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter worth about $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the 2nd quarter valued at about $33,000. Denver PWM LLC purchased a new position in Home Depot in the second quarter worth about $40,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot in the third quarter worth approximately $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot during the second quarter valued at approximately $47,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

NYSE HD opened at $402.40 on Friday. The business has a 50-day moving average price of $388.23 and a 200-day moving average price of $359.43. The firm has a market cap of $399.03 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month 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.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HD shares. Guggenheim boosted their price objective on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Melius Research began coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Telsey Advisory Group restated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. Morgan Stanley increased their price objective on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Stifel Nicolaus decreased 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. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $410.67.

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.