Woodley Farra Manion Portfolio Management Inc. Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Woodley Farra Manion Portfolio Management Inc. decreased its stake in The Home Depot, Inc. (NYSE:HD) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 168,153 shares of the home improvement retailer’s stock after selling 3,123 shares during the period. Home Depot comprises about 3.3% of Woodley Farra Manion Portfolio Management Inc.’s investment portfolio, making the stock its 13th biggest position. Woodley Farra Manion Portfolio Management Inc.’s holdings in Home Depot were worth $65,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot during the third quarter valued at approximately $41,000. Finally, Sugar Maple Asset Management LLC bought a new position in Home Depot during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of research reports. Bank of America upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird cut their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Mizuho boosted their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Up 1.6 %

Shares of Home Depot stock opened at $396.69 on Monday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a 50-day moving average of $401.36 and a 200 day moving average of $399.37. The firm has a market cap of $394.06 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $2.82 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

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.