Wedbush Securities Inc. Lowers Position in The Home Depot, Inc. (NYSE:HD)

Wedbush Securities Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,400 shares of the home improvement retailer’s stock after selling 653 shares during the quarter. Home Depot comprises approximately 0.7% of Wedbush Securities Inc.’s holdings, making the stock its 16th biggest holding. Wedbush Securities Inc.’s holdings in Home Depot were worth $19,994,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in HD. Synergy Asset Management LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter valued at $32,000. Sellwood Investment Partners LLC purchased a new stake in Home Depot during the 4th quarter worth $39,000. Finally, NewSquare Capital LLC increased its holdings in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the subject of several analyst reports. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $353.78 on Friday. The firm’s 50 day moving average is $384.89 and its two-hundred day moving average is $398.15. 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 capitalization of $351.67 billion, a P/E ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. 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) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 EPS. Analysts anticipate 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. Investors of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.60%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

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.