SVB Wealth LLC Sells 6,467 Shares of The Home Depot, Inc. (NYSE:HD)

SVB Wealth LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 100,021 shares of the home improvement retailer’s stock after selling 6,467 shares during the period. Home Depot makes up about 0.9% of SVB Wealth LLC’s investment portfolio, making the stock its 18th largest position. SVB Wealth LLC’s holdings in Home Depot were worth $34,431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Torray Investment Partners LLC boosted its stake in shares of Home Depot by 2.4% during the second quarter. Torray Investment Partners LLC now owns 48,578 shares of the home improvement retailer’s stock valued at $16,723,000 after purchasing an additional 1,136 shares during the period. EFG Asset Management Americas Corp. lifted its holdings in Home Depot by 35.8% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 3,816 shares of the home improvement retailer’s stock valued at $1,314,000 after buying an additional 1,005 shares in the last quarter. Chicago Capital LLC boosted its position in Home Depot by 6.9% in the 2nd quarter. Chicago Capital LLC now owns 46,655 shares of the home improvement retailer’s stock valued at $16,060,000 after buying an additional 3,005 shares during the period. One Wealth Management Investment & Advisory Services LLC grew its stake in Home Depot by 4.8% in the 2nd quarter. One Wealth Management Investment & Advisory Services LLC now owns 1,778 shares of the home improvement retailer’s stock worth $612,000 after acquiring an additional 81 shares in the last quarter. Finally, Intelligence Driven Advisers LLC increased its position in shares of Home Depot by 3.4% during the second quarter. Intelligence Driven Advisers LLC now owns 1,510 shares of the home improvement retailer’s stock worth $520,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several research analyst reports. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on Home Depot from $377.00 to $400.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. Raymond James restated a “market perform” rating on shares of Home Depot in a report on Wednesday, May 15th. Royal Bank of Canada lowered their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 14th. Finally, Loop Capital cut their target price on shares of Home Depot from $360.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $387.79.

Home Depot Stock Performance

HD traded down $1.80 on Friday, reaching $360.05. The stock had a trading volume of 2,228,832 shares, compared to its average volume of 3,406,975. The business’s 50-day moving average price is $357.27 and its two-hundred day moving average price is $354.10. The company has a market cap of $357.03 billion, a P/E ratio of 24.15, a price-to-earnings-growth ratio of 2.55 and a beta of 0.98. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. 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 quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period in the previous year, the business earned $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 29th will be paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio is presently 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.