Paralel Advisors LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Paralel Advisors LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HDFree Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 5,949 shares of the home improvement retailer’s stock, valued at approximately $2,048,000.

A number of other large investors also recently made changes to their positions in the stock. Frank Rimerman Advisors LLC bought a new position in shares of Home Depot during the fourth quarter worth $27,000. Kings Path Partners LLC bought a new position in Home Depot during the second quarter worth about $33,000. A.P. Gilfoyle & Co. L.P. acquired a new position in Home Depot in the first quarter valued at about $38,000. Burkett Financial Services LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $38,000. Finally, Livelsberger Financial Advisory acquired a new stake in shares of Home Depot during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock traded down $1.80 during mid-day trading on Friday, hitting $360.05. 2,228,832 shares of the company’s stock traded hands, compared to its average volume of 3,406,975. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The firm has a 50 day simple moving average of $357.27 and a two-hundred day simple moving average of $354.04. The Home Depot, Inc. has a fifty-two week low of $274.26 and a fifty-two week high of $396.87. The stock has a market cap of $357.03 billion, a price-to-earnings ratio of 24.15, a P/E/G ratio of 2.55 and a beta of 1.00.

Home Depot (NYSE:HDGet Free Report) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the company posted $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be paid 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 2.50%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Analyst Ratings Changes

A number of analysts recently issued reports on HD shares. Royal Bank of Canada lowered their target price on Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. One investment 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 stock currently has an average rating of “Moderate Buy” and an average price target of $387.79.

View Our Latest Stock Analysis on Home Depot

About Home Depot

(Free Report)

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.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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