Private Management Group Inc. Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Private Management Group Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 29.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,073 shares of the home improvement retailer’s stock after selling 438 shares during the period. Private Management Group Inc.’s holdings in Home Depot were worth $369,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HD. Norges Bank bought a new position in Home Depot in the 4th quarter worth about $4,311,070,000. Alphinity Investment Management Pty Ltd bought a new stake in Home Depot during the 1st quarter worth approximately $513,016,000. Capital Research Global Investors lifted its stake in Home Depot by 7.2% in the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after purchasing an additional 971,833 shares during the period. Finally, Swedbank AB purchased a new position in shares of Home Depot during the 1st quarter valued at $301,364,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 1.5 %

NYSE HD opened at $365.49 on Tuesday. The business’s 50-day moving average is $357.86 and its 200 day moving average is $353.93. The stock has a market capitalization of $363.04 billion, a PE ratio of 24.51, a PEG ratio of 2.49 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 $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The firm had revenue of $43.18 billion for 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 business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $4.65 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.46%. Home Depot’s dividend payout ratio is 60.36%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Saturday, May 25th. Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada decreased 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 research report on Wednesday, August 14th. Evercore ISI dropped their target price 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. Finally, Loop Capital decreased their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.79.

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.