The Home Depot, Inc. (NYSE:HD) Stake Raised by Range Financial Group LLC

Range Financial Group LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,579 shares of the home improvement retailer’s stock after buying an additional 365 shares during the period. Home Depot comprises 1.3% of Range Financial Group LLC’s holdings, making the stock its 11th largest position. Range Financial Group LLC’s holdings in Home Depot were worth $2,609,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Norges Bank bought a new position in Home Depot during the fourth quarter worth about $4,311,070,000. Alphinity Investment Management Pty Ltd acquired a new position in Home Depot during the 1st quarter valued at about $513,016,000. Capital Research Global Investors boosted its stake in Home Depot by 7.2% in the fourth quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after acquiring an additional 992,444 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Home Depot by 15.0% in the first 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 last quarter. Finally, Swedbank AB bought a new stake in shares of Home Depot in the 1st quarter valued at about $301,364,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $358.75 on Thursday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The business’s 50 day simple moving average is $356.55 and its 200 day simple moving average is $354.06. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $396.87. The company has a market cap of $355.74 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.55 and a beta of 0.98.

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, topping the consensus estimate of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 EPS. The firm’s quarterly revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared 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. This represents a $9.00 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analysts Set New Price Targets

HD has been the topic of several research analyst reports. Telsey Advisory Group restated a “market perform” rating and set a $360.00 target price on shares of Home Depot in a report on Tuesday, August 13th. HSBC lowered their target price on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. DA Davidson raised their price target on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday. TD Cowen reduced their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Royal Bank of Canada lowered their price objective on 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. One research 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $387.79.

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.