The Home Depot, Inc. (NYSE:HD) Stake Raised by Adalta Capital Management LLC

Adalta Capital Management LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,184 shares of the home improvement retailer’s stock after buying an additional 50 shares during the period. Home Depot makes up approximately 5.9% of Adalta Capital Management LLC’s portfolio, making the stock its 4th largest position. Adalta Capital Management LLC’s holdings in Home Depot were worth $11,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. McIlrath & Eck LLC boosted its stake in shares of Home Depot by 10.9% in the 4th quarter. McIlrath & Eck LLC now owns 2,981 shares of the home improvement retailer’s stock valued at $1,160,000 after buying an additional 294 shares during the period. Novem Group purchased a new position in Home Depot in the fourth quarter worth approximately $941,000. 10Elms LLP purchased a new position in Home Depot in the fourth quarter worth approximately $54,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Home Depot by 15.0% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 190,207 shares of the home improvement retailer’s stock worth $73,989,000 after acquiring an additional 24,748 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC increased its position in shares of Home Depot by 62.4% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 20,812 shares of the home improvement retailer’s stock valued at $8,096,000 after purchasing an additional 7,997 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.7%

Shares of HD stock opened at $376.84 on Wednesday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week 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 business has a fifty day simple moving average of $358.99 and a 200-day simple moving average of $387.78. The stock has a market cap of $374.59 billion, a P/E ratio of 25.60, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same period last year, the company earned $3.63 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday. Wells Fargo & Company decreased their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $425.32.

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.