Headinvest LLC Acquires 410 Shares of The Home Depot, Inc. (NYSE:HD)

Headinvest LLC grew its holdings in The Home Depot, Inc. (NYSE:HD) by 11.6% in the fourth quarter, HoldingsChannel reports. The fund owned 3,955 shares of the home improvement retailer’s stock after buying an additional 410 shares during the period. Headinvest LLC’s holdings in Home Depot were worth $1,538,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. City National Bank of Florida MSD bought a new stake in shares of Home Depot in the fourth quarter valued at about $397,000. JT Stratford LLC boosted its position in shares of Home Depot by 3.7% in the fourth quarter. JT Stratford LLC now owns 6,606 shares of the home improvement retailer’s stock valued at $2,570,000 after acquiring an additional 235 shares during the period. Cornerstone Advisory LLC boosted its position in shares of Home Depot by 1.1% in the fourth quarter. Cornerstone Advisory LLC now owns 3,288 shares of the home improvement retailer’s stock valued at $1,347,000 after acquiring an additional 37 shares during the period. Highview Capital Management LLC DE boosted its position in shares of Home Depot by 7.1% in the fourth quarter. Highview Capital Management LLC DE now owns 2,535 shares of the home improvement retailer’s stock valued at $986,000 after acquiring an additional 169 shares during the period. Finally, Mosaic Family Wealth Partners LLC boosted its position in shares of Home Depot by 6.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,876 shares of the home improvement retailer’s stock valued at $730,000 after acquiring an additional 110 shares during the period. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HD shares. Sanford C. Bernstein upped their price objective on shares of Home Depot from $380.00 to $398.00 and gave the stock a “market perform” rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Tuesday. Wedbush reaffirmed an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, TD Securities reissued a “buy” rating and set a $470.00 target price on shares of Home Depot in a research note on Wednesday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $427.92.

Home Depot Stock Performance

Shares of HD stock opened at $370.71 on Thursday. The business’s 50 day simple moving average is $359.38 and its 200 day simple moving average is $387.66. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The stock has a market capitalization of $368.50 billion, a PE ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 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 9.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.63 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. 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.