Columbia Asset Management Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

Columbia Asset Management trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,252 shares of the home improvement retailer’s stock after selling 590 shares during the quarter. Home Depot makes up approximately 1.1% of Columbia Asset Management’s investment portfolio, making the stock its 24th largest position. Columbia Asset Management’s holdings in Home Depot were worth $5,939,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its holdings in shares of Home Depot by 7.2% during 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 during the last quarter. Norges Bank purchased a new position in Home Depot during the fourth quarter worth approximately $4,311,070,000. Fisher Asset Management LLC boosted its stake in Home Depot by 2.1% during the fourth quarter. Fisher Asset Management LLC now owns 8,790,895 shares of the home improvement retailer’s stock worth $3,046,485,000 after buying an additional 184,480 shares during the last quarter. Price T Rowe Associates Inc. MD grew 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 buying an additional 971,833 shares in the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after acquiring an additional 569,690 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.8 %

Shares of NYSE:HD opened at $361.85 on Friday. 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 Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The stock has a market cap of $358.82 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. The firm’s 50 day moving average price is $356.96 and its 200 day moving average price is $354.11.

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, topping the consensus estimate 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 analysts’ expectations of $42.57 billion. During the same period in the previous year, the company earned $4.65 EPS. The company’s revenue for the quarter 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 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. HSBC lowered their price target on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. Wedbush reissued an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. Loop Capital cut their price target on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. Finally, Stifel Nicolaus cut their target price on 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 issued a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average 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.