Janney Montgomery Scott LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

by · The Markets Daily

Janney Montgomery Scott LLC grew its stake in The Home Depot, Inc. (NYSE:HD – Free Report) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 424,499 shares of the home improvement retailer’s stock after purchasing an additional 6,630 shares during the period. Janney Montgomery Scott LLC’s holdings in Home Depot were worth $172,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HD. International Assets Investment Management LLC grew its position in Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after buying an additional 8,762,735 shares during the period. Legal & General Group Plc boosted its stake in shares of Home Depot by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after acquiring an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Home Depot by 15.0% during 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 acquiring an additional 971,833 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after purchasing an additional 138,396 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Home Depot by 13.1% during the first quarter. Jennison Associates LLC now owns 4,917,286 shares of the home improvement retailer’s stock worth $1,886,271,000 after purchasing an additional 569,690 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.3 %

Shares of NYSE:HD opened at $392.59 on Monday. The company has a market capitalization of $389.96 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 2.73 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. The business has a 50-day moving average price of $392.51 and a 200 day moving average price of $362.03. 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 – Get Free Report) last announced its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the business earned $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current 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 paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is 60.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Oppenheimer upped their target price on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 24th. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. Daiwa America upgraded shares of Home Depot to a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada reduced their price target on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 14th. Finally, Guggenheim lifted their price objective on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $413.48.

Read Our Latest Research Report on HD

About Home Depot

(Free Report)

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.

Recommended Stories