Westchester Capital Management Inc. Has $14.77 Million Position in The Home Depot, Inc. (NYSE:HD)

Westchester Capital Management Inc. cut its holdings in The Home Depot, Inc. (NYSE:HD) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,457 shares of the home improvement retailer’s stock after selling 312 shares during the quarter. Home Depot makes up 3.6% of Westchester Capital Management Inc.’s portfolio, making the stock its 13th largest position. Westchester Capital Management Inc.’s holdings in Home Depot were worth $14,772,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Abacus Wealth Partners LLC lifted its position in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares during the period. Redhawk Wealth Advisors Inc. increased 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 valued at $1,469,000 after acquiring an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. raised its holdings in Home Depot by 1.2% during the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the last quarter. Acorn Creek Capital LLC lifted its position in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp lifted its holdings in shares of Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after purchasing an additional 28 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $405.90 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The stock has a 50-day moving average price of $395.19 and a 200-day moving average price of $363.84. 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 Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. The business had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. Home Depot’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $4.65 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.22%. Home Depot’s payout ratio is 60.57%.

Analysts Set New Price Targets

HD has been the subject of a number of recent analyst reports. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Jefferies Financial Group began coverage on shares of Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price target for the company. Barclays lifted their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Morgan Stanley upped their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $420.04.

Home Depot Company Profile

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.