Patron Partners LLC Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Patron Partners LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 3.4% during the second quarter, HoldingsChannel reports. The fund owned 3,890 shares of the home improvement retailer’s stock after selling 135 shares during the period. Home Depot comprises approximately 0.8% of Patron Partners LLC’s holdings, making the stock its 27th largest position. Patron Partners LLC’s holdings in Home Depot were worth $1,339,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in Home Depot by 3.9% in the 4th quarter. Gilbert & Cook Inc. now owns 4,256 shares of the home improvement retailer’s stock worth $1,475,000 after acquiring an additional 158 shares during the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Home Depot by 4.8% in the 4th quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock worth $931,000 after purchasing an additional 122 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Home Depot by 4.2% in the 4th quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock worth $4,811,000 after purchasing an additional 557 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in shares of Home Depot by 161.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock worth $2,188,000 after purchasing an additional 3,923 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of Home Depot by 2.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 20,554 shares of the home improvement retailer’s stock valued at $7,123,000 after purchasing an additional 490 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

HD opened at $360.05 on Friday. The firm has a market cap of $357.03 billion, a P/E ratio of 24.15, a PEG ratio of 2.55 and a beta of 0.98. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a 50 day simple moving average of $357.27 and a two-hundred day simple moving average of $354.10. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.65 EPS. Equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HD shares. Royal Bank of Canada reduced their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a report on Wednesday, August 14th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research note on Tuesday, August 13th. Loop Capital dropped their target price on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. JPMorgan Chase & Co. lifted their target price on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Finally, Evercore ISI lowered their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target 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.