Harmony Asset Management LLC Sells 931 Shares of The Home Depot, Inc. (NYSE:HD)

Harmony Asset Management LLC lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,017 shares of the home improvement retailer’s stock after selling 931 shares during the quarter. Home Depot accounts for approximately 2.2% of Harmony Asset Management LLC’s holdings, making the stock its 7th largest holding. Harmony Asset Management LLC’s holdings in Home Depot were worth $5,453,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after buying an additional 875,836 shares during the period. Geode Capital Management LLC increased its holdings in Home Depot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer’s stock worth $8,525,046,000 after purchasing an additional 257,036 shares in the last quarter. Norges Bank bought a new position in Home Depot during the 4th quarter worth about $5,032,910,000. Capital Research Global Investors increased its holdings in Home Depot by 5.5% during the 4th quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer’s stock worth $4,845,098,000 after purchasing an additional 647,552 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 1.7%

Shares of NYSE:HD opened at $370.71 on Thursday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a market capitalization of $368.50 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a 50-day simple moving average of $359.38 and a 200 day simple moving average of $387.66. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last issued 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). The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $3.63 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is an increase 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%.

Analyst Ratings Changes

A number of research firms have issued reports on HD. DA Davidson lowered their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday. Jefferies Financial Group lowered their target price on Home Depot from $461.00 to $456.00 in a report on Tuesday. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Sanford C. Bernstein increased 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. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $427.92.

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.