Instrumental Wealth LLC Boosts Stock Position in The Home Depot, Inc. (NYSE:HD)

Instrumental Wealth LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 597 shares of the home improvement retailer’s stock after buying an additional 39 shares during the quarter. Instrumental Wealth LLC’s holdings in Home Depot were worth $230,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company lowered their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. Morgan Stanley reiterated an “overweight” rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Jefferies Financial Group decreased their target price on Home Depot from $461.00 to $456.00 in a report on Tuesday, May 20th. Mizuho decreased their target price on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Eight investment 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Stock Performance

Shares of HD opened at $363.17 on Friday. The business’s 50 day moving average is $359.90 and its two-hundred day moving average is $387.19. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market cap of $361.00 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. During the same period in the previous year, the company earned $3.63 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Home Depot Company 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.