Brightwater Advisory LLC Trims Holdings in The Home Depot, Inc. (NYSE:HD)

Brightwater Advisory LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,340 shares of the home improvement retailer’s stock after selling 77 shares during the quarter. Brightwater Advisory LLC’s holdings in Home Depot were worth $521,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HD. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter worth approximately $41,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Home Depot during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $393.52 on Wednesday. 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 stock has a 50 day moving average of $401.23 and a 200-day moving average of $398.48. The stock has a market cap of $390.90 billion, a P/E ratio of 26.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.82 EPS. On average, analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company 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 $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.34%. Home Depot’s payout ratio is currently 61.14%.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the company from $356.00 to $410.00 in a report on Wednesday. Mizuho upped their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Thursday, February 20th. Evercore ISI boosted their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Barclays raised their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $437.12.

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.