Pathstone Holdings LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Pathstone Holdings LLC lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 178,829 shares of the home improvement retailer’s stock after selling 11,897 shares during the quarter. Pathstone Holdings LLC’s holdings in Home Depot were worth $69,599,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HD. K.J. Harrison & Partners Inc raised its holdings in Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. purchased a new stake in shares of Home Depot in the fourth quarter valued at $409,000. Johnson & White Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at $1,793,000. Finally, JPL Wealth Management LLC purchased a new position in Home Depot during the fourth quarter worth about $3,193,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.8%

NYSE HD opened at $373.66 on Wednesday. The stock has a market cap of $371.43 billion, a P/E ratio of 25.38, a PEG ratio of 4.03 and a beta of 1.05. The company’s fifty day simple moving average is $357.86 and its 200-day simple moving average is $388.40. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. 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 released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.46%. Home Depot’s payout ratio is 61.66%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HD shares. Gordon Haskett lowered Home Depot from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird decreased their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Morgan Stanley cut their price target on shares of Home Depot from $450.00 to $410.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. Finally, Wedbush reissued an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $430.32.

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.