Arizona State Retirement System Buys 1,696 Shares of The Home Depot, Inc. (NYSE:HD)

Arizona State Retirement System grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.6% in the 2nd quarter, Holdings Channel reports. The fund owned 287,302 shares of the home improvement retailer’s stock after purchasing an additional 1,696 shares during the quarter. Home Depot comprises 0.7% of Arizona State Retirement System’s portfolio, making the stock its 20th biggest holding. Arizona State Retirement System’s holdings in Home Depot were worth $98,901,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HD. Ruedi Wealth Management Inc. increased 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 in the last quarter. Cape Investment Advisory Inc. increased its stake in shares of Home Depot by 1.4% in the fourth 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 in the last quarter. Acorn Creek Capital LLC increased its stake in shares of Home Depot by 3.4% in the second 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 in the last quarter. STAR Financial Bank increased its stake in shares of Home Depot by 0.7% in the fourth 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 increased its stake in shares of Home Depot by 1.2% in the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after buying an additional 29 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.5 %

NYSE:HD opened at $360.00 on Friday. The firm has a market capitalization of $356.98 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve month high of $396.87. The stock’s 50 day moving average price is $356.96 and its two-hundred day moving average price is $354.11. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping analysts’ consensus estimates of $4.59 by $0.08. The business had revenue of $43.18 billion for 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%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.65 EPS. Equities research analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s payout ratio is presently 60.36%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Stifel Nicolaus lowered their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research note on Wednesday, August 14th. HSBC decreased their price target on Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a report on Wednesday, May 15th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. TD Cowen decreased their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Royal Bank of Canada cut their price objective on Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 14th. One investment 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

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.