Banque Pictet & Cie SA Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Banque Pictet & Cie SA decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 12.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,270 shares of the home improvement retailer’s stock after selling 330 shares during the quarter. Banque Pictet & Cie SA’s holdings in Home Depot were worth $781,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bare Financial Services Inc purchased a new stake in shares of Home Depot in the fourth quarter valued at about $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $27,000. Burkett Financial Services LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $38,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Home Depot during the first quarter worth $38,000. Finally, Livelsberger Financial Advisory purchased a new position in Home Depot in the fourth quarter worth $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Tuesday, August 13th. TD Cowen dropped their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Jefferies Financial Group began coverage on shares of Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 target price for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a report on Friday, May 10th. One 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’s stock. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Stock Performance

Shares of NYSE HD traded up $10.23 during mid-day trading on Friday, reaching $375.59. 3,426,154 shares of the company were exchanged, compared to its average volume of 3,446,290. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The company’s 50-day simple moving average is $353.44 and its 200-day simple moving average is $353.65. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock has a market capitalization of $372.44 billion, a P/E ratio of 25.19, a P/E/G ratio of 2.48 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The business 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 9.79% and a return on equity of 1,056.67%. The company’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $4.65 earnings per share. As a group, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be given a $2.25 dividend. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.40%. Home Depot’s dividend payout ratio (DPR) 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.