The Home Depot, Inc. (NYSE:HD) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 19.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 75,218 shares of the home improvement retailer’s stock after selling 18,575 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Home Depot were worth $29,259,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the 4th quarter worth approximately $32,000. Marshall Investment Management LLC purchased a new position in Home Depot during the 4th quarter worth approximately $41,000. Finally, Sellwood Investment Partners LLC acquired a new stake in Home Depot during the 4th quarter valued at $39,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Wells Fargo & Company increased their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Robert W. Baird cut their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. 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 company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $434.08.

Home Depot Stock Performance

NYSE HD opened at $357.62 on Friday. The company’s fifty day moving average is $363.97 and its two-hundred day moving average is $392.40. The firm has a market capitalization of $355.49 billion, a price-to-earnings ratio of 24.29, a P/E/G ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the company posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

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.