SYSTM Wealth Solutions LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

SYSTM Wealth Solutions LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 18.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,971 shares of the home improvement retailer’s stock after selling 5,122 shares during the period. Home Depot accounts for approximately 1.7% of SYSTM Wealth Solutions LLC’s holdings, making the stock its 7th largest holding. SYSTM Wealth Solutions LLC’s holdings in Home Depot were worth $7,563,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Meridian Wealth Partners LLC raised its stake in Home Depot by 0.8% during the 2nd quarter. Meridian Wealth Partners LLC now owns 6,372 shares of the home improvement retailer’s stock worth $2,194,000 after buying an additional 52 shares during the period. Financial & Tax Architects LLC acquired a new stake in Home Depot during the 2nd quarter worth $413,000. Fairway Wealth LLC acquired a new stake in Home Depot during the 2nd quarter worth $25,000. Abbot Financial Management Inc. raised its stake in Home Depot by 3.5% during the 2nd quarter. Abbot Financial Management Inc. now owns 8,144 shares of the home improvement retailer’s stock worth $2,804,000 after buying an additional 279 shares during the period. Finally, Perennial Investment Advisors LLC raised its stake in Home Depot by 5.0% during the 2nd quarter. Perennial Investment Advisors LLC now owns 3,813 shares of the home improvement retailer’s stock worth $1,312,000 after buying an additional 183 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on HD shares. UBS Group lifted their price target on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Jefferies Financial Group started coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 price target on the stock. Stifel Nicolaus dropped their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating on the stock in a research note on Wednesday, August 14th. Daiwa America raised Home Depot to a “hold” rating in a research note on Thursday, August 15th. Finally, Evercore ISI dropped their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $389.04.

Home Depot Trading Up 0.4 %

Home Depot stock opened at $383.46 on Wednesday. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. 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 stock has a market capitalization of $380.24 billion, a P/E ratio of 25.72, a PEG ratio of 2.57 and a beta of 1.00. The stock has a 50-day simple moving average of $362.82 and a 200 day simple moving average of $353.92.

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 business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter last year, the company posted $4.65 earnings per share. Home Depot’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed 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. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, August 29th. 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.