Ellenbecker Investment Group Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Ellenbecker Investment Group cut its holdings in The Home Depot, Inc. (NYSE:HD) by 13.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,386 shares of the home improvement retailer’s stock after selling 363 shares during the quarter. Ellenbecker Investment Group’s holdings in Home Depot were worth $967,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Sax Wealth Advisors LLC boosted its position in Home Depot by 13.2% during the 3rd quarter. Sax Wealth Advisors LLC now owns 1,959 shares of the home improvement retailer’s stock valued at $794,000 after acquiring an additional 229 shares in the last quarter. Kozak & Associates Inc. boosted its position in Home Depot by 4.4% during the third quarter. Kozak & Associates Inc. now owns 2,014 shares of the home improvement retailer’s stock valued at $843,000 after purchasing an additional 85 shares in the last quarter. Madrona Financial Services LLC grew its stake in Home Depot by 6.7% in the third quarter. Madrona Financial Services LLC now owns 2,689 shares of the home improvement retailer’s stock valued at $1,090,000 after purchasing an additional 168 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Home Depot by 3.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 388,837 shares of the home improvement retailer’s stock worth $157,557,000 after purchasing an additional 12,074 shares in the last quarter. Finally, TruWealth Advisors LLC lifted its position in shares of Home Depot by 2.5% during the third quarter. TruWealth Advisors LLC now owns 6,520 shares of the home improvement retailer’s stock valued at $2,642,000 after buying an additional 157 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on HD. Melius Research began coverage on shares of Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Jefferies Financial Group began coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target on the stock. DA Davidson boosted their target price on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Finally, Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Stock Performance

Shares of NYSE HD opened at $415.03 on Friday. The company has a market capitalization of $411.55 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The company’s fifty day moving average price is $385.10 and its 200 day moving average price is $358.53. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its 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. The firm had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned $4.65 EPS. On average, research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 60.36%.

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.