Alley Investment Management Company LLC Buys 506 Shares of The Home Depot, Inc. (NYSE:HD)

Alley Investment Management Company LLC grew its position in The Home Depot, Inc. (NYSE:HD) by 1.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 52,643 shares of the home improvement retailer’s stock after acquiring an additional 506 shares during the period. Home Depot accounts for approximately 2.5% of Alley Investment Management Company LLC’s investment portfolio, making the stock its 11th biggest position. Alley Investment Management Company LLC’s holdings in Home Depot were worth $18,122,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HD. Empirical Finance LLC lifted its holdings in shares of Home Depot by 3.3% during the first quarter. Empirical Finance LLC now owns 37,127 shares of the home improvement retailer’s stock worth $14,242,000 after purchasing an additional 1,195 shares during the period. Commonwealth Retirement Investments LLC lifted its holdings in Home Depot by 5.5% during the 1st quarter. Commonwealth Retirement Investments LLC now owns 18,628 shares of the home improvement retailer’s stock worth $7,146,000 after buying an additional 965 shares during the period. Leeward Financial Partners LLC grew its position in shares of Home Depot by 7.3% in the 1st quarter. Leeward Financial Partners LLC now owns 10,431 shares of the home improvement retailer’s stock valued at $4,001,000 after buying an additional 711 shares during the last quarter. Sanibel Captiva Trust Company Inc. acquired a new position in shares of Home Depot in the fourth quarter worth approximately $88,708,000. Finally, Johnson & White Wealth Management LLC lifted its stake in shares of Home Depot by 6.2% in the first quarter. Johnson & White Wealth Management LLC now owns 4,200 shares of the home improvement retailer’s stock worth $1,611,000 after acquiring an additional 247 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Telsey Advisory Group restated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Evercore ISI cut their price target on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Daiwa America raised Home Depot to a “hold” rating in a research report on Thursday, August 15th. Stifel Nicolaus cut their target price on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research report on Wednesday, August 14th. Finally, Loop Capital boosted their price target on Home Depot from $330.00 to $360.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus target price of $391.88.

Home Depot Stock Performance

NYSE HD opened at $400.95 on Wednesday. The company has a market capitalization of $398.26 billion, a PE ratio of 26.89, a price-to-earnings-growth ratio of 2.71 and a beta of 1.00. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $401.11. The company has a 50-day simple moving average of $366.26 and a 200 day simple moving average of $354.42.

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 net margin of 9.71% and a return on equity of 681.27%. The company had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 EPS. Home Depot’s revenue was up .6% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The company 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. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.24%. 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.