Treasurer of the State of North Carolina Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Treasurer of the State of North Carolina lifted its holdings in The Home Depot, Inc. (NYSE:HD) by 11.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 484,877 shares of the home improvement retailer’s stock after acquiring an additional 51,190 shares during the period. Home Depot accounts for about 0.7% of Treasurer of the State of North Carolina’s portfolio, making the stock its 18th biggest holding. Treasurer of the State of North Carolina’s holdings in Home Depot were worth $188,612,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. POM Investment Strategies LLC lifted its stake in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after purchasing an additional 24 shares during the last quarter. Center for Financial Planning Inc. raised its position in Home Depot by 0.5% during the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares in the last quarter. Marino Stram & Associates LLC increased its holdings in shares of Home Depot by 2.3% in the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the period. Live Oak Private Wealth LLC increased its holdings in shares of Home Depot by 0.5% in the fourth quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after buying an additional 25 shares during the period. Finally, Mezzasalma Advisors LLC increased its holdings in shares of Home Depot by 4.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 655 shares of the home improvement retailer’s stock worth $255,000 after buying an additional 25 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $354.24 on Thursday. The company has a market cap of $352.13 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 company has a 50 day moving average of $377.57 and a two-hundred day moving average of $396.60.

Home Depot (NYSE:HD) last released its quarterly earnings data 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. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.82 earnings per share. As a group, analysts predict 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 announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on HD shares. Royal Bank of Canada reduced their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Guggenheim restated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Robert W. Baird cut their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Ten investment 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.