The Home Depot, Inc. (NYSE:HD) Stake Cut by Tower View Wealth Management LLC

Tower View Wealth Management LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 1.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,667 shares of the home improvement retailer’s stock after selling 272 shares during the quarter. Home Depot makes up about 3.2% of Tower View Wealth Management LLC’s holdings, making the stock its 9th biggest position. Tower View Wealth Management LLC’s holdings in Home Depot were worth $6,094,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its holdings in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot in the 3rd quarter valued at $336,231,000. FMR LLC raised its holdings in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Home Depot by 295.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after acquiring an additional 518,054 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Home Depot by 37,025.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock valued at $187,019,000 after acquiring an additional 479,485 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $396.69 on Friday. 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 firm has a 50-day moving average of $401.36 and a two-hundred day moving average of $399.06. The stock has a market cap of $394.06 billion, a P/E ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given 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 yield of 2.32%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Analyst Ratings Changes

Several brokerages have weighed in on HD. Evercore ISI boosted their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Bank of America upped their price objective on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday. Finally, Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.