City National Bank of Florida MSD Invests $397,000 in The Home Depot, Inc. (NYSE:HD)

City National Bank of Florida MSD bought a new stake in The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,020 shares of the home improvement retailer’s stock, valued at approximately $397,000.

A number of other large investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the fourth quarter valued at about $28,000. Navigoe LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth about $32,000. Finally, Quarry LP lifted its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.7%

Shares of NYSE HD opened at $370.71 on Thursday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year 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 moving average of $359.38 and a 200 day moving average of $387.66. The stock has a market cap of $368.50 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its 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 for the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 earnings per share. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS 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 dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.48%. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analysts Set New Price Targets

HD has been the topic of several recent research reports. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and raised their price target for the stock from $405.00 to $425.00 in a research report on Wednesday. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price target on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a report on Thursday, May 15th. Morgan Stanley increased their price target on shares of Home Depot from $410.00 to $415.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Gordon Haskett boosted their price objective on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday. Eight analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.92.

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.