Fairbanks Capital Management Inc. Raises Stock Position in The Home Depot, Inc. (NYSE:HD)

Fairbanks Capital Management Inc. increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,278 shares of the home improvement retailer’s stock after purchasing an additional 54 shares during the period. Fairbanks Capital Management Inc.’s holdings in Home Depot were worth $784,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HD. Norges Bank purchased a new position in shares of Home Depot during the 4th quarter worth about $4,311,070,000. Alphinity Investment Management Pty Ltd purchased a new position in shares of Home Depot during the 1st quarter worth about $513,016,000. Capital Research Global Investors lifted its holdings in Home Depot by 7.2% during the 4th quarter. Capital Research Global Investors now owns 14,765,587 shares of the home improvement retailer’s stock valued at $5,117,016,000 after buying an additional 992,444 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in 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 buying an additional 971,833 shares in the last quarter. Finally, Swedbank AB bought a new stake in Home Depot during the 1st quarter valued at about $301,364,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HD. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Royal Bank of Canada decreased 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 report on Wednesday, August 14th. TD Cowen decreased their price objective on shares of Home Depot from $440.00 to $420.00 and set a “buy” rating for the company in a report on Wednesday, May 15th. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Saturday, May 25th. Finally, UBS Group lifted their price objective 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.79.

Home Depot Stock Down 0.5 %

NYSE:HD opened at $360.05 on Monday. The company has a market cap of $357.63 billion, a PE ratio of 24.15, a P/E/G ratio of 2.49 and a beta of 1.00. The Home Depot, Inc. has a twelve month low of $274.26 and a twelve 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. The company’s 50 day moving average is $357.27 and its two-hundred day moving average is $353.97.

Home Depot (NYSE:HD) last released its 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 for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. Home Depot’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.65 EPS. Analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 29th will be given a dividend of $2.25 per share. This represents a $9.00 annualized dividend 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%.

About Home Depot

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.