Northeast Investment Management Sells 421 Shares of The Home Depot, Inc. (NYSE:HD)

Northeast Investment Management cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.1% in the third quarter, Holdings Channel reports. The institutional investor owned 13,149 shares of the home improvement retailer’s stock after selling 421 shares during the period. Northeast Investment Management’s holdings in Home Depot were worth $5,328,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HD. Abacus Wealth Partners LLC increased its holdings in Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. boosted its position in Home Depot by 1.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after acquiring an additional 27 shares in the last quarter. Acorn Creek Capital LLC boosted its position in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp boosted its position in Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after acquiring an additional 28 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Shares of HD opened at $395.57 on Tuesday. The firm has a market cap of $392.92 billion, a PE ratio of 26.62, a P/E/G ratio of 2.73 and a beta of 1.01. 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 firm has a fifty day simple moving average of $392.94 and a two-hundred day simple moving average of $362.47. The Home Depot, Inc. has a 1-year low of $286.79 and a 1-year high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the business posted $4.65 EPS. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.28%. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Analyst Upgrades and Downgrades

HD has been the topic of several research reports. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Wednesday, October 2nd. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Melius Research initiated coverage on Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective on the stock. Finally, Royal Bank of Canada dropped their price target on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $413.48.

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.