RWQ Financial Management Services Inc. Boosts Position in The Home Depot, Inc. (NYSE:HD)

RWQ Financial Management Services Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 228.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 19,028 shares of the home improvement retailer’s stock after acquiring an additional 13,229 shares during the period. Home Depot comprises 5.2% of RWQ Financial Management Services Inc.’s holdings, making the stock its 9th largest holding. RWQ Financial Management Services Inc.’s holdings in Home Depot were worth $5,911,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HD. Great West Life Assurance Co. Can raised its position in shares of Home Depot by 4.5% during the second quarter. Great West Life Assurance Co. Can now owns 1,142,814 shares of the home improvement retailer’s stock worth $356,677,000 after acquiring an additional 49,264 shares during the last quarter. Financial Partners Group LLC increased its position in Home Depot by 6.0% during the 2nd quarter. Financial Partners Group LLC now owns 18,820 shares of the home improvement retailer’s stock valued at $5,846,000 after purchasing an additional 1,064 shares during the period. Oxford Financial Group Ltd. raised its holdings in Home Depot by 34.8% during the 2nd quarter. Oxford Financial Group Ltd. now owns 5,425 shares of the home improvement retailer’s stock worth $1,685,000 after purchasing an additional 1,400 shares during the last quarter. Joseph Group Capital Management lifted its position in shares of Home Depot by 7.5% in the 2nd quarter. Joseph Group Capital Management now owns 6,147 shares of the home improvement retailer’s stock worth $1,910,000 after purchasing an additional 429 shares during the period. Finally, First Commonwealth Financial Corp PA boosted its stake in shares of Home Depot by 10.0% in the 2nd quarter. First Commonwealth Financial Corp PA now owns 3,512 shares of the home improvement retailer’s stock valued at $1,091,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 68.34% of the company’s stock.

Home Depot Stock Down 0.0 %

HD traded down $0.11 during mid-day trading on Monday, reaching $307.16. 633,055 shares of the stock were exchanged, compared to its average volume of 3,614,423. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $347.25. The company has a debt-to-equity ratio of 28.37, a quick ratio of 0.35 and a current ratio of 1.30. The stock has a market capitalization of $307.18 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.30 and a beta of 0.93. The company has a 50 day moving average price of $298.63 and a two-hundred day moving average price of $306.73.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share for the quarter, topping the consensus estimate of $3.75 by $0.06. The business had revenue of $37.71 billion for the quarter, compared to analysts’ expectations of $37.59 billion. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. The firm’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the company earned $4.24 earnings per share. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.05 EPS for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Thursday, November 30th will be given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, November 29th. Home Depot’s payout ratio is 53.66%.

Home Depot declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 15th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to reacquire up to 4.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. Wedbush boosted their target price on shares of Home Depot from $290.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, August 16th. Oppenheimer reissued an “outperform” rating and issued a $360.00 price objective on shares of Home Depot in a research note on Wednesday, November 15th. Guggenheim decreased their target price on Home Depot from $360.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, November 15th. Royal Bank of Canada dropped their price target on Home Depot from $303.00 to $299.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 15th. Finally, Morgan Stanley reduced their price objective on shares of Home Depot from $350.00 to $335.00 and set an “overweight” rating for the company in a research report on Wednesday, November 15th. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $339.57.

Insider Activity at Home Depot

In other Home Depot news, CAO Kimberly R. Scardino sold 1,600 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $326.69, for a total value of $522,704.00. Following the completion of the transaction, the chief accounting officer now owns 8,281 shares in the company, valued at approximately $2,705,319.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Kimberly R. Scardino sold 1,375 shares of Home Depot stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $306.51, for a total value of $421,451.25. Following the sale, the chief accounting officer now owns 6,744 shares of the company’s stock, valued at approximately $2,067,103.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kimberly R. Scardino sold 1,600 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $326.69, for a total value of $522,704.00. Following the transaction, the chief accounting officer now directly owns 8,281 shares of the company’s stock, valued at $2,705,319.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,186 shares of company stock valued at $6,862,827. 0.19% of the stock is owned by insiders.

Home Depot Company Profile

The Home Depot, Inc operates as a home improvement retailer. 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.