NorthRock Partners LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

NorthRock Partners LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 149.6% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,274 shares of the home improvement retailer’s stock after buying an additional 9,753 shares during the quarter. NorthRock Partners LLC’s holdings in Home Depot were worth $6,330,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Northeast Financial Consultants Inc raised its stake in shares of Home Depot by 0.9% in the fourth quarter. Northeast Financial Consultants Inc now owns 23,305 shares of the home improvement retailer’s stock valued at $9,065,000 after buying an additional 208 shares during the period. Measured Risk Portfolios Inc. purchased a new stake in Home Depot in the 4th quarter worth about $268,000. Minot DeBlois Advisors LLC purchased a new stake in Home Depot during the fourth quarter valued at about $119,000. Napa Wealth Management raised its position in shares of Home Depot by 937.9% in the fourth quarter. Napa Wealth Management now owns 5,397 shares of the home improvement retailer’s stock valued at $2,099,000 after purchasing an additional 4,877 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Home Depot by 1.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 167,004 shares of the home improvement retailer’s stock worth $64,963,000 after buying an additional 2,543 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on HD shares. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. Robert W. Baird cut their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Guggenheim restated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Ten 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 stock. 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 Trading Down 0.8%

HD opened at $373.66 on Wednesday. The firm’s 50 day moving average is $357.86 and its 200-day moving average is $388.40. The firm has a market capitalization of $371.43 billion, a P/E ratio of 25.38, a P/E/G 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. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.46%. Home Depot’s dividend payout ratio is presently 61.66%.

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.