The Home Depot, Inc. (NYSE:HD) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC decreased its position in The Home Depot, Inc. (NYSE:HD) by 6.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,656 shares of the home improvement retailer’s stock after selling 429 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Home Depot were worth $2,697,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in shares of Home Depot by 21.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 451,269 shares of the home improvement retailer’s stock valued at $173,107,000 after purchasing an additional 78,953 shares during the period. GAMMA Investing LLC raised its holdings in Home Depot by 12.7% during the 1st quarter. GAMMA Investing LLC now owns 13,258 shares of the home improvement retailer’s stock worth $5,086,000 after buying an additional 1,490 shares during the period. Chickasaw Capital Management LLC lifted its stake in Home Depot by 14.7% during the first quarter. Chickasaw Capital Management LLC now owns 883 shares of the home improvement retailer’s stock valued at $339,000 after buying an additional 113 shares in the last quarter. First Hawaiian Bank lifted its stake in Home Depot by 8.3% during the first quarter. First Hawaiian Bank now owns 17,746 shares of the home improvement retailer’s stock valued at $6,807,000 after buying an additional 1,355 shares in the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its holdings in shares of Home Depot by 1.8% in the first quarter. Beese Fulmer Investment Management Inc. now owns 32,480 shares of the home improvement retailer’s stock worth $12,459,000 after buying an additional 566 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HD. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research note on Thursday, September 12th. DA Davidson upped their price objective on shares of Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Oppenheimer lifted their price objective on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $404.69.

Home Depot Price Performance

Shares of Home Depot stock opened at $418.61 on Thursday. The firm has a market cap of $415.10 billion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The firm’s 50-day simple moving average is $382.42 and its 200-day simple moving average is $357.80. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $421.56. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share 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 for the quarter, compared to the consensus estimate of $42.57 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.15%. Home Depot’s payout ratio is presently 60.36%.

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.