Cornerstone Capital Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

Cornerstone Capital Inc. lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,031 shares of the home improvement retailer's stock after acquiring an additional 3,546 shares during the period. Home Depot makes up approximately 2.1% of Cornerstone Capital Inc.'s holdings, making the stock its 16th biggest holding. Cornerstone Capital Inc.'s holdings in Home Depot were worth $22,704,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Abacus Wealth Partners LLC increased its position in shares of Home Depot by 3.7% during 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 during the period. Redhawk Wealth Advisors Inc. increased its position in shares of Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer's stock worth $1,469,000 after purchasing an additional 25 shares during the last quarter. Ruedi Wealth Management Inc. increased its position in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer's stock worth $817,000 after purchasing an additional 27 shares during the last quarter. Acorn Creek Capital LLC increased its position in shares of Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer's stock worth $291,000 after purchasing an additional 28 shares during the last quarter. Finally, Consolidated Portfolio Review Corp increased its position in shares of Home Depot by 1.9% in the third quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer's stock worth $617,000 after purchasing an additional 28 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Down 3.0 %

HD traded down $11.90 during trading on Wednesday, reaching $388.19. The stock had a trading volume of 7,129,534 shares, compared to its average volume of 3,364,879. The stock's 50 day moving average is $393.80 and its two-hundred day moving average is $363.10. 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 company has a market capitalization of $385.59 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 2.72 and a beta of 1.01. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.59 by $0.08. Home Depot had a return on equity of 733.61% and a net margin of 9.71%. The business had revenue of $43.18 billion during the quarter, compared to the consensus estimate of $42.57 billion. During the same quarter in the prior year, the company earned $4.65 earnings per share. The firm's quarterly revenue was up .6% compared to the same quarter last year. As a group, analysts expect that The Home Depot, Inc. will post 15.01 earnings per share 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 issued a dividend of $2.25 per share. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.32%. Home Depot's payout ratio is presently 60.57%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HD. Morgan Stanley upped their price objective on shares of Home Depot from $380.00 to $450.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. UBS Group upped their price objective 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. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a "market perform" rating and a $451.00 price objective on the stock. Loop Capital raised Home Depot from a "hold" rating to a "buy" rating and upped their target price for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, TD Cowen upped their target price on Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $416.37.

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.