Spectrum Wealth Advisory Group LLC Invests $217,000 in The Home Depot, Inc. (NYSE:HD)

Spectrum Wealth Advisory Group LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 630 shares of the home improvement retailer’s stock, valued at approximately $217,000.

Several other hedge funds have also made changes to their positions in the company. Gilbert & Cook Inc. lifted its position in shares of Home Depot by 3.9% in the fourth quarter. Gilbert & Cook Inc. now owns 4,256 shares of the home improvement retailer’s stock worth $1,475,000 after purchasing an additional 158 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Home Depot by 4.8% during the 4th quarter. Aveo Capital Partners LLC now owns 2,686 shares of the home improvement retailer’s stock valued at $931,000 after acquiring an additional 122 shares in the last quarter. 9258 Wealth Management LLC grew its holdings in shares of Home Depot by 4.2% during the 4th quarter. 9258 Wealth Management LLC now owns 13,883 shares of the home improvement retailer’s stock valued at $4,811,000 after acquiring an additional 557 shares in the last quarter. Gryphon Financial Partners LLC increased its stake in shares of Home Depot by 161.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,355 shares of the home improvement retailer’s stock worth $2,188,000 after acquiring an additional 3,923 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Home Depot by 8.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 12,043 shares of the home improvement retailer’s stock worth $4,336,000 after acquiring an additional 896 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $370.84 on Wednesday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a one year low of $274.26 and a one year high of $396.87. The company has a fifty day moving average price of $358.58 and a 200 day moving average price of $353.92. The stock has a market cap of $368.35 billion, a P/E ratio of 24.87, a PEG ratio of 2.49 and a beta of 1.00.

Home Depot (NYSE:HD) last announced 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 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 analyst estimates of $42.57 billion. During the same quarter in the prior year, the business earned $4.65 earnings per share. The firm’s revenue for the quarter was up .6% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.36%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Evercore ISI dropped their target price on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Royal Bank of Canada cut their price objective on shares of Home Depot from $377.00 to $363.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 14th. HSBC reduced their target price on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research note on Wednesday, May 15th. UBS Group raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus decreased their price objective on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $387.79.

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.