Cornerstone Advisory LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

by · The Cerbat Gem

Cornerstone Advisory LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 1.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,288 shares of the home improvement retailer’s stock after acquiring an additional 37 shares during the quarter. Cornerstone Advisory LLC’s holdings in Home Depot were worth $1,347,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HD. POM Investment Strategies LLC grew its holdings in shares of Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares in the last quarter. Center for Financial Planning Inc. grew its holdings in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares in the last quarter. Marino Stram & Associates LLC lifted its stake in Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after acquiring an additional 25 shares during the last quarter. Live Oak Private Wealth LLC lifted its stake in Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after acquiring an additional 25 shares during the last quarter. Finally, Mezzasalma Advisors LLC lifted its stake in Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after acquiring an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price target on shares of Home Depot from $380.00 to $398.00 and gave the stock a “market perform” rating in a research note on Wednesday. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Stifel Nicolaus upgraded shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $405.00 to $425.00 in a research note on Wednesday. Gordon Haskett boosted their price objective on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Home Depot from $410.00 to $415.00 and gave the stock an “overweight” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $427.92.

View Our Latest Analysis on Home Depot

Home Depot Price Performance

Shares of NYSE HD opened at $370.71 on Thursday. The stock has a market cap of $368.50 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company’s 50-day moving average price is $359.38 and its 200 day moving average price is $387.66. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD – Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.63 earnings per share. As a group, research analysts forecast 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is 61.66%.

Home Depot Profile

(Free Report)

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.

Further Reading

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