Schmidt P J Investment Management Inc. Sells 313 Shares of The Home Depot, Inc. (NYSE:HD)

Schmidt P J Investment Management Inc. decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,633 shares of the home improvement retailer’s stock after selling 313 shares during the period. Home Depot makes up about 1.3% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 23rd largest holding. Schmidt P J Investment Management Inc.’s holdings in Home Depot were worth $7,550,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Abacus Wealth Partners LLC increased its position in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 25 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Home Depot by 0.7% during the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after purchasing an additional 25 shares during the period. Ruedi Wealth Management Inc. grew its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC increased its holdings in Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after purchasing an additional 28 shares during the period. Finally, Talisman Wealth Advisors LLC raised its position in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Performance

Shares of HD opened at $398.97 on Friday. The Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The business’s fifty day simple moving average is $389.08 and its two-hundred day simple moving average is $359.73. The company has a market cap of $396.29 billion, a price-to-earnings ratio of 26.85, a P/E/G ratio of 2.78 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 9.71% and a return on equity of 681.27%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.65 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th were given a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.26%. Home Depot’s payout ratio is 60.57%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HD shares. Melius Research initiated coverage on Home Depot in a research note on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective 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. UBS Group raised their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, DA Davidson increased their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $412.00.

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.