Schmidt P J Investment Management Inc. Has $7.55 Million Position in The Home Depot, Inc. (NYSE:HD)

Schmidt P J Investment Management Inc. decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,633 shares of the home improvement retailer’s stock after selling 313 shares during the quarter. Home Depot makes up 1.3% of Schmidt P J Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Schmidt P J Investment Management Inc.’s holdings in Home Depot were worth $7,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Abacus Wealth Partners LLC lifted its stake in shares of Home Depot by 3.7% in the third quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Home Depot by 0.7% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after acquiring an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. raised its holdings in shares of Home Depot by 1.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after acquiring an additional 27 shares during the last quarter. Acorn Creek Capital LLC lifted its position in Home Depot by 3.4% in the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after acquiring an additional 28 shares in the last quarter. Finally, Talisman Wealth Advisors LLC boosted its stake in Home Depot by 1.2% during the 1st quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after purchasing an additional 29 shares during the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Down 0.9 %

HD opened at $398.97 on Friday. The company has a 50 day moving average of $389.08 and a 200 day moving average of $359.73. 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 Home Depot, Inc. has a 12 month low of $274.26 and a 12 month high of $421.56. The company has a market cap of $396.29 billion, a PE ratio of 26.85, a price-to-earnings-growth ratio of 2.78 and a beta of 1.00.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping 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 firm had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the company earned $4.65 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio is presently 60.57%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HD. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research note on Wednesday, October 2nd. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. Royal Bank of Canada reduced 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 note on Wednesday, August 14th. Telsey Advisory Group reissued a “market perform” rating and set a $360.00 price target on shares of Home Depot in a research report on Thursday, September 12th. Finally, Guggenheim boosted their price target on shares of Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $412.00.

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.