BNP Paribas Increases Position in The Home Depot, Inc. (NYSE:HD)

BNP Paribas increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 16.2% in the fourth quarter, HoldingsChannel reports. The firm owned 37,491 shares of the home improvement retailer’s stock after buying an additional 5,234 shares during the period. BNP Paribas’ holdings in Home Depot were worth $14,580,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC acquired a new position in Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth about $28,000. Navigoe LLC acquired a new position in shares of Home Depot during the fourth quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at approximately $32,000. Finally, Quarry LP grew its position in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $364.41 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $362.24 billion, a PE ratio of 24.76, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a fifty day moving average of $360.97 and a two-hundred day moving average of $390.34.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company posted $2.82 EPS. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.52%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HD shares. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $434.08.

Home Depot 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.