Cannon Financial Strategists Inc. Reduces Position in The Home Depot, Inc. (NYSE:HD)

Cannon Financial Strategists Inc. reduced its position in The Home Depot, Inc. (NYSE:HD) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,926 shares of the home improvement retailer’s stock after selling 28 shares during the quarter. Home Depot accounts for approximately 0.3% of Cannon Financial Strategists Inc.’s holdings, making the stock its 29th biggest holding. Cannon Financial Strategists Inc.’s holdings in Home Depot were worth $1,591,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Fairway Wealth LLC purchased a new stake in shares of Home Depot during the second quarter valued at $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the 2nd quarter valued at about $33,000. Denver PWM LLC purchased a new stake in Home Depot in the 2nd quarter valued at about $40,000. Strategic Investment Solutions Inc. IL bought a new position in Home Depot in the 2nd quarter worth about $47,000. Finally, Quarry LP increased its position in shares of Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after acquiring an additional 36 shares during the period. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HD. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a report on Friday, October 4th. Oppenheimer increased their price target on Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. DA Davidson lifted their price objective on Home Depot from $395.00 to $430.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 target price on the stock. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $360.00 target price on shares of Home Depot in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $409.12.

Home Depot Stock Down 2.0 %

HD stock opened at $406.52 on Tuesday. The stock has a market capitalization of $403.11 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $421.56. 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 firm has a 50 day moving average of $386.31 and a 200 day moving average of $358.83.

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, topping the consensus estimate 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 the consensus estimate of $42.57 billion. During the same period in the previous year, the firm posted $4.65 earnings per share. The business’s revenue for the quarter 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 company also recently disclosed 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 2.21%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is 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.