Hobbs Group Advisors LLC Raises Position in The Home Depot, Inc. (NYSE:HD)

Hobbs Group Advisors LLC increased its holdings in The Home Depot, Inc. (NYSE:HD) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,205 shares of the home improvement retailer’s stock after purchasing an additional 84 shares during the period. Hobbs Group Advisors LLC’s holdings in Home Depot were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. K.J. Harrison & Partners Inc grew its stake in shares of Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after buying an additional 3,590 shares during the period. Ashton Thomas Private Wealth LLC grew its position in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after acquiring an additional 3,873 shares during the period. Pensionfund Sabic increased its stake in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after acquiring an additional 3,800 shares during the last quarter. Wedmont Private Capital raised its holdings in shares of Home Depot by 12.5% in the 4th 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 during the period. Finally, Johnson & White Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at about $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Trading Down 1.3 %

Home Depot stock opened at $357.86 on Friday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm’s 50-day moving average is $389.98 and its 200-day moving average is $398.60. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market cap of $355.72 billion, a P/E ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $2.30 per share. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of research analyst reports. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company increased their price target on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Royal Bank of Canada reduced their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

About Home Depot

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.