The Home Depot, Inc. (NYSE:HD) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. reduced its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,090 shares of the home improvement retailer’s stock after selling 2,821 shares during the quarter. Bridges Investment Management Inc.’s holdings in Home Depot were worth $46,634,000 as of its most recent SEC filing.

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

Home Depot Price Performance

Shares of Home Depot stock opened at $405.90 on Friday. 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 company has a market cap of $403.18 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The firm has a fifty day moving average price of $395.19 and a two-hundred day moving average price of $363.84. The Home Depot, Inc. has a fifty-two week low of $286.79 and a fifty-two week high of $421.56.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business 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 earned $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders 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 2.22%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Analyst Ratings Changes

HD has been the topic of a number of recent analyst reports. TD Cowen lifted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Guggenheim upped their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Daiwa America upgraded Home Depot to a “hold” rating in a report on Thursday, August 15th. Finally, Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $420.04.

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.