Chapin Davis Inc. Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Chapin Davis Inc. lifted its stake in The Home Depot, Inc. (NYSE:HD) by 1.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 3,130 shares of the home improvement retailer’s stock after acquiring an additional 39 shares during the period. Chapin Davis Inc.’s holdings in Home Depot were worth $1,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Moss Adams Wealth Advisors LLC boosted its holdings in Home Depot by 13.5% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 899 shares of the home improvement retailer’s stock worth $312,000 after buying an additional 107 shares during the period. Wealth Alliance boosted its holdings in Home Depot by 1.6% in the 4th quarter. Wealth Alliance now owns 6,314 shares of the home improvement retailer’s stock worth $2,188,000 after buying an additional 98 shares during the period. Everence Capital Management Inc. boosted its holdings in Home Depot by 18.7% in the 4th quarter. Everence Capital Management Inc. now owns 32,098 shares of the home improvement retailer’s stock worth $11,124,000 after buying an additional 5,060 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Home Depot by 11.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 398,888 shares of the home improvement retailer’s stock worth $138,235,000 after buying an additional 42,083 shares during the period. Finally, Allen Capital Group LLC boosted its holdings in shares of Home Depot by 6.7% during the 4th quarter. Allen Capital Group LLC now owns 14,549 shares of the home improvement retailer’s stock valued at $5,042,000 after purchasing an additional 911 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Loop Capital dropped their price objective on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday. Wedbush reissued an “outperform” rating and set a $410.00 price objective on shares of Home Depot in a report on Friday, May 10th. Jefferies Financial Group assumed coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. StockNews.com downgraded shares of Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Finally, 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 for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.33.

Home Depot Stock Up 0.6 %

Shares of NYSE HD traded up $1.99 during midday trading on Friday, reaching $362.06. 3,308,320 shares of the company’s stock traded hands, compared to its average volume of 3,434,097. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The stock’s 50 day simple moving average is $350.74 and its 200-day simple moving average is $353.23. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a market cap of $359.02 billion, a price-to-earnings ratio of 24.28, a P/E/G ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last released 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 9.79% and a return on equity of 1,056.67%. The firm had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. During the same period last year, the firm earned $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.28 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.49%. Home Depot’s dividend payout ratio is presently 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.