Orange Investment Advisors Inc. decreased its stake in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 17.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,390 shares of the home improvement retailer’s stock after selling 2,965 shares during the period. Orange Investment Advisors Inc.’s holdings in Home Depot were worth $4,733,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Advocate Investing Services LLC acquired a new stake in Home Depot during the fourth quarter valued at approximately $25,000. Parvin Asset Management LLC grew its position in shares of Home Depot by 110.0% in the 3rd quarter. Parvin Asset Management LLC now owns 63 shares of the home improvement retailer’s stock worth $26,000 after acquiring an additional 33 shares in the last quarter. Cache Advisors LLC bought a new stake in shares of Home Depot in the 1st quarter valued at approximately $27,000. Key Capital Management INC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new stake in shares of Home Depot during the 1st quarter valued at approximately $28,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.
Home Depot Trading Up 0.5%
Shares of NYSE HD opened at $350.54 on Tuesday. The Home Depot, Inc. has a 12-month low of $289.10 and a 12-month high of $426.75. The company has a market cap of $349.53 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 4.03 and a beta of 0.97. The company has a current ratio of 1.04, a quick ratio of 0.28 and a debt-to-equity ratio of 3.23. The stock’s 50 day simple moving average is $323.25 and its 200 day simple moving average is $345.79.
Home Depot Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Thursday, June 4th were issued a dividend of $2.33 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $9.32 annualized dividend and a dividend yield of 2.7%. Home Depot’s payout ratio is 66.19%.
Wall Street Analyst Weigh In
HD has been the topic of several research analyst reports. Guggenheim restated a “buy” rating on shares of Home Depot in a research note on Monday. Stifel Nicolaus lowered their target price on shares of Home Depot from $375.00 to $320.00 and set a “hold” rating for the company in a research note on Monday, May 18th. Evercore dropped their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, May 20th. TD Cowen reduced their price target on shares of Home Depot from $450.00 to $375.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Finally, Morgan Stanley decreased their price target on shares of Home Depot from $420.00 to $400.00 and set an “overweight” rating for the company in a report on Wednesday, May 20th. Eighteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $371.71.
Read Our Latest Stock Analysis on HD
Home Depot Company Profile
The Home Depot, Inc (NYSE: HD) is a leading home improvement retailer that operates large-format stores and an integrated online platform offering a broad range of products and services for do-it-yourself consumers, professional contractors and businesses. The company was founded in 1978 by Bernard Marcus and Arthur Blank and is headquartered in Atlanta, Georgia. Since opening its first stores at the end of the 1970s, Home Depot has grown into a multinational retailer known for its orange-branded stores and wide assortment of home improvement merchandise.
Home Depot’s core business includes the sale of building materials, lumber, tools, hardware, appliances, paint, plumbing and electrical supplies, lawn and garden products, and home décor.
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