Fernwood Investment Management LLC Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Fernwood Investment Management LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 12.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,087 shares of the home improvement retailer’s stock after selling 290 shares during the quarter. Fernwood Investment Management LLC’s holdings in Home Depot were worth $846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fairway Wealth LLC acquired a new position in Home Depot during the 2nd quarter valued at approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot in the 2nd quarter worth $33,000. Denver PWM LLC purchased a new position in Home Depot in the 2nd quarter worth $40,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the 3rd quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot during the 2nd quarter valued at about $47,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.3 %

HD stock opened at $392.59 on Monday. The firm has a market cap of $389.96 billion, a PE ratio of 26.42, a PEG ratio of 2.73 and a beta of 1.01. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56. 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 firm’s 50 day moving average price is $392.51 and its 200-day moving average price is $362.03.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.65 EPS. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Sanford C. Bernstein initiated coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. Guggenheim lifted their price objective on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Telsey Advisory Group reiterated a “market perform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price 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. Finally, Stifel Nicolaus cut their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus 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.