Cascadia Advisory Services LLC Makes New Investment in Home Depot Inc (NYSE:HD)

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Cascadia Advisory Services LLC acquired a new position in Home Depot Inc (NYSE:HD) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,401 shares of the home improvement retailer’s stock, valued at approximately $602,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Legacy Bridge LLC raised its holdings in Home Depot by 3.9% in the 1st quarter. Legacy Bridge LLC now owns 4,925 shares of the home improvement retailer’s stock worth $920,000 after acquiring an additional 186 shares during the last quarter. Lbmc Investment Advisors LLC raised its holdings in Home Depot by 65.2% in the 1st quarter. Lbmc Investment Advisors LLC now owns 5,796 shares of the home improvement retailer’s stock worth $1,082,000 after acquiring an additional 2,287 shares during the last quarter. Benedict Financial Advisors Inc. raised its holdings in Home Depot by 2.6% in the 1st quarter. Benedict Financial Advisors Inc. now owns 6,146 shares of the home improvement retailer’s stock worth $1,148,000 after acquiring an additional 154 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in Home Depot by 1.0% in the 1st quarter. Congress Asset Management Co. MA now owns 437,043 shares of the home improvement retailer’s stock worth $81,600,000 after acquiring an additional 4,487 shares during the last quarter. Finally, Willingdon Wealth Management raised its holdings in Home Depot by 1.8% in the 1st quarter. Willingdon Wealth Management now owns 33,808 shares of the home improvement retailer’s stock worth $6,312,000 after acquiring an additional 608 shares during the last quarter. Institutional investors and hedge funds own 69.65% of the company’s stock.

HD stock traded down $1.42 during mid-day trading on Thursday, hitting $281.44. The company had a trading volume of 150,451 shares, compared to its average volume of 3,015,602. The company has a market capitalization of $306.52 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 2.29 and a beta of 1.06. Home Depot Inc has a 12-month low of $140.63 and a 12-month high of $290.58. The company has a 50-day moving average price of $263.11 and a 200 day moving average price of $233.69.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 EPS for the quarter, topping the consensus estimate of $3.20 by $0.82. The business had revenue of $38.05 billion for the quarter, compared to analysts’ expectations of $32.13 billion. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.17 EPS. On average, research analysts forecast that Home Depot Inc will post 10.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, September 3rd will be given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, September 2nd. Home Depot’s dividend payout ratio is 58.54%.

A number of brokerages recently weighed in on HD. Royal Bank of Canada boosted their price objective on shares of Home Depot from $261.00 to $266.00 in a report on Wednesday, May 20th. Telsey Advisory Group lifted their target price on shares of Home Depot from $290.00 to $300.00 and gave the stock a “market perform” rating in a research report on Wednesday. Credit Suisse Group reaffirmed a “buy” rating and issued a $300.00 target price on shares of Home Depot in a research report on Monday. Goldman Sachs Group lifted their target price on shares of Home Depot from $265.00 to $301.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Wedbush lifted their target price on shares of Home Depot from $270.00 to $300.00 and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $286.33.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Further Reading: Net Margin

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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