New World Advisors LLC Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

New World Advisors LLC increased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,928 shares of the home improvement retailer’s stock after purchasing an additional 127 shares during the period. Home Depot accounts for about 0.2% of New World Advisors LLC’s holdings, making the stock its 19th biggest holding. New World Advisors LLC’s holdings in Home Depot were worth $664,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HD. Ruedi Wealth Management Inc. boosted its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the period. Cape Investment Advisory Inc. increased its holdings in Home Depot by 1.4% in the 4th quarter. Cape Investment Advisory Inc. now owns 1,963 shares of the home improvement retailer’s stock valued at $680,000 after buying an additional 28 shares during the period. Acorn Creek Capital LLC increased its holdings in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the period. STAR Financial Bank raised its position in shares of Home Depot by 0.7% in the 4th quarter. STAR Financial Bank now owns 3,944 shares of the home improvement retailer’s stock valued at $1,367,000 after buying an additional 29 shares in the last quarter. Finally, Talisman Wealth Advisors LLC lifted its holdings in shares of Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock worth $915,000 after acquiring an additional 29 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. 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. Raymond James reissued a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. Wedbush restated an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. Finally, StockNews.com cut shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

Home Depot Stock Down 0.6 %

Home Depot stock traded down $2.19 during trading on Wednesday, hitting $362.55. 948,472 shares of the company were exchanged, compared to its average volume of 3,404,175. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company has a market capitalization of $359.51 billion, a P/E ratio of 24.46, a PEG ratio of 2.55 and a beta of 0.98. The business’s 50 day moving average is $356.09 and its 200 day moving average is $353.98. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87.

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

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a dividend of $2.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.48%. Home Depot’s dividend payout ratio 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.