Kovack Advisors Inc. Raises Holdings in The Home Depot, Inc. (NYSE:HD)

Kovack Advisors Inc. grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,424 shares of the home improvement retailer’s stock after purchasing an additional 152 shares during the period. Kovack Advisors Inc.’s holdings in Home Depot were worth $5,611,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot during the third quarter valued at about $41,000. Finally, Sugar Maple Asset Management LLC purchased a new position in shares of Home Depot during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of several recent research reports. Barclays lifted their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday. Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company lifted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $390.40 on Thursday. The firm has a market cap of $387.81 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 4.03 and a beta of 1.05. The company’s 50 day moving average is $401.17 and its 200 day moving average is $398.42. 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 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 data 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. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same period last year, the company posted $2.82 earnings per share. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Home Depot Company 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.