Townsend Asset Management Corp NC ADV Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

Townsend Asset Management Corp NC ADV cut its holdings in The Home Depot, Inc. (NYSE:HD) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,660 shares of the home improvement retailer’s stock after selling 33 shares during the period. Townsend Asset Management Corp NC ADV’s holdings in Home Depot were worth $1,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Waterway Wealth Management LLC boosted its holdings in shares of Home Depot by 10.2% in the 3rd quarter. Waterway Wealth Management LLC now owns 680 shares of the home improvement retailer’s stock worth $276,000 after purchasing an additional 63 shares during the period. Evernest Financial Advisors LLC lifted its position in Home Depot by 28.7% in the third quarter. Evernest Financial Advisors LLC now owns 4,337 shares of the home improvement retailer’s stock worth $1,757,000 after buying an additional 967 shares during the last quarter. Community Financial Services Group LLC lifted its position in Home Depot by 1.8% in the third quarter. Community Financial Services Group LLC now owns 8,142 shares of the home improvement retailer’s stock worth $3,299,000 after buying an additional 141 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in Home Depot by 8.0% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 40,069 shares of the home improvement retailer’s stock worth $16,236,000 after buying an additional 2,978 shares during the period. Finally, Stewardship Advisors LLC purchased a new stake in shares of Home Depot in the third quarter valued at $301,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $406.52 on Tuesday. 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 firm has a market cap of $403.11 billion, a PE ratio of 27.26, a P/E/G ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The stock has a fifty day moving average price of $386.31 and a 200-day moving average price of $358.83.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $42.57 billion. During the same period last year, the business posted $4.65 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. Equities research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.21%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. DA Davidson upped their target price on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. UBS Group raised their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, Daiwa America upgraded shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $410.67.

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.