Wellington Wealth Strategies LLC. Takes Position in The Home Depot, Inc. (NYSE:HD)

Wellington Wealth Strategies LLC. acquired a new position in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,030 shares of the home improvement retailer’s stock, valued at approximately $425,000.

A number of other hedge funds have also bought and sold shares of the business. K.J. Harrison & Partners Inc grew its holdings in Home Depot by 65.2% during 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 buying an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its position in shares of Home Depot by 19.5% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares during the period. Disciplined Investors L.L.C. purchased a new position in Home Depot during the fourth quarter valued at approximately $409,000. JPL Wealth Management LLC bought a new stake in Home Depot during the 4th quarter worth approximately $3,193,000. Finally, Umpqua Bank lifted its stake in Home Depot by 26.5% in the 4th quarter. Umpqua Bank now owns 6,173 shares of the home improvement retailer’s stock worth $2,425,000 after purchasing an additional 1,294 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.5%

NYSE HD opened at $379.03 on Tuesday. The firm has a market cap of $376.77 billion, a PE ratio of 25.75, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The stock has a 50-day moving average of $358.40 and a 200-day moving average of $387.85. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The business’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side 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. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Wells Fargo & Company decreased their target price on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Gordon Haskett lowered Home Depot from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Nine investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.