Bay Capital Advisors LLC Invests $310,000 in The Home Depot, Inc. (NYSE:HD)

Bay Capital Advisors LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 798 shares of the home improvement retailer’s stock, valued at approximately $310,000.

Other hedge funds have also recently made changes to their positions in the company. K.J. Harrison & Partners Inc boosted its holdings in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC boosted its stake in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Pensionfund Sabic increased its stake in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Wedmont Private Capital boosted its position in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at approximately $1,793,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of Home Depot stock opened at $363.97 on Tuesday. The firm has a market cap of $361.55 billion, a P/E ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. 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 debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a 50 day simple moving average of $393.46 and a 200 day simple moving average of $399.16.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the company posted $2.82 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $435.85.

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.