Sound View Wealth Advisors Group LLC Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Sound View Wealth Advisors Group LLC grew its position in shares of The Home Depot, Inc. (NYSE:HD) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 35,467 shares of the home improvement retailer’s stock after purchasing an additional 1,469 shares during the period. Home Depot makes up about 1.1% of Sound View Wealth Advisors Group LLC’s holdings, making the stock its 25th biggest holding. Sound View Wealth Advisors Group LLC’s holdings in Home Depot were worth $13,796,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in 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 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at $32,000. Legacy Investment Solutions LLC bought a new position in Home Depot in the 3rd quarter worth $41,000. Finally, Marshall Investment Management LLC purchased a new stake in Home Depot in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on HD. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 1.3 %

NYSE HD opened at $376.66 on Friday. 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 Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm’s fifty day moving average is $400.21 and its two-hundred day moving average is $399.81. The firm has a market cap of $374.16 billion, a PE ratio of 25.59, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the firm posted $2.82 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts expect 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 will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is 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.