Cutter & CO Brokerage Inc. Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Cutter & CO Brokerage Inc. lessened its position in The Home Depot, Inc. (NYSE:HD) by 9.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,036 shares of the home improvement retailer’s stock after selling 218 shares during the period. Cutter & CO Brokerage Inc.’s holdings in Home Depot were worth $701,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors increased its position in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock worth $5,117,016,000 after purchasing an additional 992,444 shares during the period. Charles Schwab Investment Management Inc. raised its position in Home Depot by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,217,777 shares of the home improvement retailer’s stock worth $4,540,197,000 after acquiring an additional 347,614 shares in the last quarter. Norges Bank acquired a new stake in Home Depot in the fourth quarter valued at $4,311,070,000. Fisher Asset Management LLC boosted its position in shares of Home Depot by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 8,802,085 shares of the home improvement retailer’s stock worth $3,050,363,000 after purchasing an additional 195,670 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Home Depot by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after purchasing an additional 971,833 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a report on Wednesday, August 14th. Citigroup lowered their price target on Home Depot from $415.00 to $395.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. JPMorgan Chase & Co. boosted their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Wedbush reissued an “outperform” rating and issued a $410.00 target price on shares of Home Depot in a report on Friday, May 10th. Finally, Wells Fargo & Company cut their price target on Home Depot from $425.00 to $400.00 and set an “overweight” rating for the company in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Trading Up 0.4 %

Shares of NYSE HD traded up $1.44 during midday trading on Friday, hitting $368.50. The stock had a trading volume of 3,216,660 shares, compared to its average volume of 3,501,517. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 1-year low of $274.26 and a 1-year high of $396.87. The company has a market capitalization of $366.03 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.55 and a beta of 0.98. The company has a fifty day moving average price of $355.21 and a 200 day moving average price of $353.95.

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

Home Depot Dividend Announcement

The business also recently disclosed 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. This represents a $9.00 annualized dividend and a yield of 2.44%. The ex-dividend date of this dividend is Thursday, August 29th. 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.