Lynch & Associates IN Increases Position in The Home Depot, Inc. (NYSE:HD)

Lynch & Associates IN lifted its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,263 shares of the home improvement retailer’s stock after purchasing an additional 285 shares during the period. Lynch & Associates IN’s holdings in Home Depot were worth $1,812,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Frank Rimerman Advisors LLC purchased a new position in Home Depot in the fourth quarter valued at approximately $27,000. Kings Path Partners LLC purchased a new position in shares of Home Depot in the 2nd quarter valued at $33,000. Burkett Financial Services LLC acquired a new stake in Home Depot during the 4th quarter worth $38,000. A.P. Gilfoyle & Co. L.P. purchased a new stake in Home Depot in the first quarter valued at $38,000. Finally, Livelsberger Financial Advisory acquired a new position in Home Depot in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD stock opened at $360.05 on Friday. The stock has a fifty day moving average price of $357.27 and a 200 day moving average price of $354.04. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The stock has a market cap of $357.03 billion, a PE ratio of 24.15, a P/E/G ratio of 2.55 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year 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 (EPS) for the quarter, topping 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 return on equity of 681.27% and a net margin of 9.71%. The business’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.65 EPS. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a $2.25 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio is presently 60.36%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. JPMorgan Chase & Co. upped their target price on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Evercore ISI lowered their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Raymond James reiterated a “market perform” rating on shares of Home Depot in a research note on Wednesday, May 15th. UBS Group lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Finally, DA Davidson increased their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $387.79.

Home Depot 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.