West Branch Capital LLC Purchases 149 Shares of The Home Depot, Inc. (NYSE:HD)

West Branch Capital LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,928 shares of the home improvement retailer’s stock after purchasing an additional 149 shares during the quarter. Home Depot accounts for 1.5% of West Branch Capital LLC’s holdings, making the stock its 16th biggest holding. West Branch Capital LLC’s holdings in Home Depot were worth $4,106,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. BLB&B Advisors LLC grew its holdings in shares of Home Depot by 8.7% during the 2nd quarter. BLB&B Advisors LLC now owns 4,892 shares of the home improvement retailer’s stock worth $1,684,000 after purchasing an additional 392 shares in the last quarter. Conning Inc. boosted its stake in Home Depot by 7.9% in the second quarter. Conning Inc. now owns 114,134 shares of the home improvement retailer’s stock valued at $39,231,000 after buying an additional 8,352 shares in the last quarter. McClarren Financial Advisors Inc. boosted its stake in Home Depot by 8,500.0% in the second quarter. McClarren Financial Advisors Inc. now owns 344 shares of the home improvement retailer’s stock valued at $118,000 after buying an additional 340 shares in the last quarter. ABLE Financial Group LLC boosted its stake in Home Depot by 0.7% in the second quarter. ABLE Financial Group LLC now owns 5,125 shares of the home improvement retailer’s stock valued at $1,764,000 after buying an additional 36 shares in the last quarter. Finally, Financial Connections Group Inc. acquired a new stake in Home Depot in the second quarter valued at about $119,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HD. TD Cowen reduced their price objective on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research note on Tuesday, August 13th. Wedbush reissued an “outperform” rating and set a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. DA Davidson upgraded Home Depot from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. Finally, Daiwa America upgraded Home Depot to a “hold” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $386.33.

Home Depot Stock Performance

Shares of HD stock traded down $0.49 on Wednesday, hitting $372.69. 2,218,310 shares of the stock were exchanged, compared to its average volume of 3,423,175. The company has a current ratio of 1.34, a quick ratio of 0.42 and a debt-to-equity ratio of 23.11. The firm has a market capitalization of $369.56 billion, a PE ratio of 25.00, a P/E/G ratio of 2.48 and a beta of 0.98. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The firm’s 50 day moving average is $354.32 and its two-hundred day moving average is $353.73.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.08. The company 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 1,056.67% and a net margin of 9.79%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.65 EPS. Sell-side analysts expect that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be issued a dividend of $2.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a yield of 2.41%. Home Depot’s dividend payout ratio (DPR) is 60.36%.

Home Depot 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.