Obermeyer Wealth Partners Cuts Position in The Home Depot, Inc. (NYSE:HD)

Obermeyer Wealth Partners reduced its stake in The Home Depot, Inc. (NYSE:HD) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,147 shares of the home improvement retailer’s stock after selling 1,018 shares during the period. Home Depot comprises 1.9% of Obermeyer Wealth Partners’ investment portfolio, making the stock its 17th largest position. Obermeyer Wealth Partners’ holdings in Home Depot were worth $36,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of HD. K.J. Harrison & Partners Inc raised its stake in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock valued at $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after acquiring an additional 3,873 shares in the last quarter. Wedmont Private Capital increased its position in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares in the last quarter. Disciplined Investors L.L.C. purchased a new position in shares of Home Depot in the fourth quarter worth about $409,000. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $1,793,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Home Depot from $450.00 to $410.00 and set an “overweight” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. cut their target price on Home Depot from $470.00 to $410.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $430.32.

Home Depot Trading Up 3.7%

Shares of HD opened at $376.06 on Tuesday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. 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 capitalization of $373.82 billion, a P/E ratio of 25.55, a P/E/G ratio of 4.03 and a beta of 1.05. The stock has a 50-day moving average price of $358.02 and a 200 day moving average price of $388.50.

Home Depot (NYSE:HD) last announced its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the business posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm 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. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.45%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 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.