Advisors Asset Management Inc. Raises Stake in The Home Depot, Inc. (NYSE:HD)

Advisors Asset Management Inc. boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,340 shares of the home improvement retailer's stock after acquiring an additional 2,391 shares during the period. Home Depot accounts for approximately 0.7% of Advisors Asset Management Inc.'s investment portfolio, making the stock its 15th biggest position. Advisors Asset Management Inc.'s holdings in Home Depot were worth $36,606,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth approximately $25,000. Kings Path Partners LLC purchased a new position in Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC acquired a new position in shares of Home Depot during the second quarter worth about $40,000. Livelsberger Financial Advisory acquired a new position in shares of Home Depot during the third quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the second quarter worth about $47,000. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

HD stock traded down $6.82 during trading hours on Wednesday, hitting $399.98. 4,730,652 shares of the stock were exchanged, compared to its average volume of 3,386,978. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $397.30 billion, a P/E ratio of 27.35, a P/E/G ratio of 2.84 and a beta of 1.01. The company has a 50-day simple moving average of $401.13 and a two-hundred day simple moving average of $367.78. The Home Depot, Inc. has a 12 month low of $302.34 and a 12 month high of $421.56.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same period last year, the firm posted $3.81 earnings per share. Home Depot's revenue was up 6.6% compared to the same quarter last year. On average, analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot's payout ratio is 61.14%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. DA Davidson upped their price target on shares of Home Depot from $430.00 to $466.00 and gave the company a "buy" rating in a report on Friday, October 25th. Royal Bank of Canada upped their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a "sector perform" rating in a research note on Monday, November 11th. UBS Group raised their price target on shares of Home Depot from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Barclays raised their target price on shares of Home Depot from $372.00 to $420.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. Finally, Evercore ISI raised their target price on shares of Home Depot from $420.00 to $430.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $426.00.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Company 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.