Sky Investment Group LLC Has $8.84 Million Position in The Home Depot, Inc. (NYSE:HD)

Sky Investment Group LLC lessened its position in The Home Depot, Inc. (NYSE:HD) by 1.1% in the third quarter, Holdings Channel.com reports. The firm owned 21,818 shares of the home improvement retailer’s stock after selling 243 shares during the quarter. Home Depot comprises 1.6% of Sky Investment Group LLC’s portfolio, making the stock its 22nd biggest holding. Sky Investment Group LLC’s holdings in Home Depot were worth $8,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wulff Hansen & CO. grew its position in shares of Home Depot by 33,540.9% in the 2nd quarter. Wulff Hansen & CO. now owns 1,478,855 shares of the home improvement retailer’s stock valued at $509,081,000 after buying an additional 1,474,459 shares during the last quarter. Alphinity Investment Management Pty Ltd bought a new stake in shares of Home Depot in the 1st quarter valued at about $513,016,000. Price T Rowe Associates Inc. MD grew its position in shares of Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock valued at $2,853,143,000 after buying an additional 971,833 shares during the last quarter. Swedbank AB bought a new stake in shares of Home Depot in the 1st quarter valued at about $301,364,000. Finally, Jennison Associates LLC grew its position in shares of Home Depot by 13.1% in the 1st quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock valued at $1,886,271,000 after buying an additional 569,690 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of Home Depot stock opened at $401.85 on Wednesday. The company has a market cap of $398.48 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $421.56. The business has a 50 day moving average price of $387.35 and a 200-day moving average price of $359.15. 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 issued its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The firm 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 company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $4.65 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.24%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Melius Research assumed coverage on Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target on the stock. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. Oppenheimer upped their target price on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Sanford C. Bernstein assumed coverage on Home Depot in a research report on Tuesday. They set a “market perform” rating and a $451.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $410.67.

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.