Massachusetts Financial Services Co. MA Raises Position in The Home Depot, Inc. (NYSE:HD)

Massachusetts Financial Services Co. MA lifted its stake in The Home Depot, Inc. (NYSE:HD) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,392,582 shares of the home improvement retailer’s stock after acquiring an additional 46,474 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.14% of Home Depot worth $479,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Home Depot by 1.0% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 213,799 shares of the home improvement retailer’s stock worth $74,092,000 after acquiring an additional 2,209 shares during the period. Empirical Finance LLC grew its stake in shares of Home Depot by 3.3% in the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after acquiring an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC grew its stake in shares of Home Depot by 5.5% in the first quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after acquiring an additional 965 shares during the period. Leeward Financial Partners LLC grew its stake in shares of Home Depot by 7.3% in the first quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock worth $4,001,000 after acquiring an additional 711 shares during the period. Finally, Sanibel Captiva Trust Company Inc. bought a new stake in shares of Home Depot in the fourth quarter worth approximately $88,708,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Evercore ISI cut their target price on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Royal Bank of Canada cut their target price 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. Stifel Nicolaus cut their target price on shares of Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $377.00 to $400.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and an average target price of $387.79.

Home Depot Price Performance

Home Depot stock opened at $382.01 on Tuesday. The company has a market cap of $378.81 billion, a price-to-earnings ratio of 25.62, a PEG ratio of 2.57 and a beta of 1.00. The firm’s fifty day moving average is $361.89 and its 200 day moving average is $353.93. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.65 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is currently 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.