49 Wealth Management LLC Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

by · The Cerbat Gem

49 Wealth Management LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD – Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,089 shares of the home improvement retailer’s stock after selling 35 shares during the quarter. 49 Wealth Management LLC’s holdings in Home Depot were worth $424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. K.J. Harrison & Partners Inc grew its holdings in shares of Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after purchasing an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC grew its holdings in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the period. Disciplined Investors L.L.C. purchased a new stake in shares of Home Depot during the 4th quarter worth about $409,000. JPL Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth about $3,193,000. Finally, Umpqua Bank grew its holdings in shares of Home Depot by 26.5% during the 4th quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock worth $2,425,000 after purchasing an additional 1,294 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the stock from $405.00 to $425.00 in a report on Wednesday. Sanford C. Bernstein boosted their target price on Home Depot from $380.00 to $398.00 and gave the stock a “market perform” rating in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on Home Depot from $424.00 to $399.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 15th. Finally, Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $427.92.

Check Out Our Latest Stock Report on HD

Home Depot Stock Performance

Shares of HD opened at $370.71 on Thursday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm 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 business’s 50 day moving average is $359.38 and its two-hundred day moving average is $387.66.

Home Depot (NYSE:HD – Get Free Report) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the business earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.48%. Home Depot’s dividend payout ratio (DPR) 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.

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