MainStreet Investment Advisors LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

MainStreet Investment Advisors LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,309 shares of the home improvement retailer’s stock after selling 772 shares during the period. Home Depot makes up approximately 2.0% of MainStreet Investment Advisors LLC’s holdings, making the stock its 11th largest holding. MainStreet Investment Advisors LLC’s holdings in Home Depot were worth $14,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Group Ltd. increased its holdings in Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares during the period. RMR Wealth Builders increased its position in shares of Home Depot by 2.2% during the fourth quarter. RMR Wealth Builders now owns 11,429 shares of the home improvement retailer’s stock valued at $4,446,000 after buying an additional 246 shares during the period. Abound Wealth Management raised its stake in Home Depot by 10.4% in the fourth quarter. Abound Wealth Management now owns 617 shares of the home improvement retailer’s stock worth $240,000 after buying an additional 58 shares in the last quarter. Persium Advisors LLC purchased a new stake in Home Depot in the fourth quarter worth about $2,477,000. Finally, Heritage Wealth Partners LLC boosted its position in Home Depot by 4.2% during the 4th quarter. Heritage Wealth Partners LLC now owns 725 shares of the home improvement retailer’s stock valued at $282,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Royal Bank of Canada decreased their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company lowered their price objective on Home Depot from $445.00 to $420.00 and set an “overweight” rating for the company in a research report on Thursday, May 8th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $430.32.

Home Depot Stock Down 0.8%

Shares of Home Depot stock opened at $373.66 on Wednesday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month 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. The company’s 50 day moving average is $357.86 and its 200 day moving average is $388.40. The company has a market cap of $371.43 billion, a price-to-earnings ratio of 25.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.82 EPS. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase 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 dividend on an annualized basis and a yield of 2.46%. Home Depot’s dividend payout ratio is currently 61.66%.

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.