Stone Point Wealth LLC Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Stone Point Wealth LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,649 shares of the home improvement retailer’s stock after selling 109 shares during the period. Stone Point Wealth LLC’s holdings in Home Depot were worth $2,694,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Home Depot by 51,250.1% during the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. Legal & General Group Plc grew its holdings in Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Home Depot by 2.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock worth $1,980,883,000 after acquiring an additional 138,396 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock worth $1,598,316,000 after acquiring an additional 333,312 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HD. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Melius Research started coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Stifel Nicolaus decreased their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company lifted their price target on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, TD Cowen lifted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $420.04.

Home Depot Price Performance

NYSE HD opened at $403.88 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 stock has a market capitalization of $401.17 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.01. The company has a 50 day moving average price of $393.80 and a two-hundred day moving average price of $363.10. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56.

Home Depot (NYSE:HD) last posted its earnings results 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. The firm had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $4.65 earnings per share. As a group, equities analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s payout ratio is 60.57%.

Home Depot Company 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.