Abacus Planning Group Inc. Increases Position in The Home Depot, Inc. (NYSE:HD)

Abacus Planning Group Inc. boosted its holdings in The Home Depot, Inc. (NYSE:HDFree Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,625 shares of the home improvement retailer’s stock after purchasing an additional 69 shares during the period. Abacus Planning Group Inc.’s holdings in Home Depot were worth $563,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of HD. Norges Bank acquired a new position in Home Depot during the 4th quarter worth $3,740,875,000. Moneta Group Investment Advisors LLC lifted its position in shares of Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock worth $3,472,867,000 after purchasing an additional 10,984,516 shares during the last quarter. Comerica Bank acquired a new position in Home Depot in the second quarter worth about $7,703,690,000. Imprint Wealth LLC increased its holdings in Home Depot by 30,994.4% in the second quarter. Imprint Wealth LLC now owns 2,413,234 shares of the home improvement retailer’s stock valued at $241,323,000 after buying an additional 2,405,473 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Home Depot during the first quarter valued at approximately $563,524,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

Home Depot stock opened at $383.60 on Friday. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The stock has a market cap of $380.16 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 2.53 and a beta of 0.99. The company’s 50-day moving average price is $369.40 and its two-hundred day moving average price is $335.27. The company has a current ratio of 1.35, a quick ratio of 0.40 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HDGet Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter last year, the business earned $3.30 earnings per share. On average, analysts expect that The Home Depot, Inc. will post 15.39 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a $2.25 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.35%. Home Depot’s dividend payout ratio is 59.60%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group boosted their price target on Home Depot from $347.00 to $393.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Robert W. Baird reiterated an “outperform” rating and set a $370.00 target price on shares of Home Depot in a research note on Wednesday, February 14th. Wedbush restated an “outperform” rating and issued a $380.00 price target on shares of Home Depot in a research report on Wednesday, February 21st. Stifel Nicolaus lifted their price target on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a report on Friday, February 16th. Finally, Barclays upgraded shares of Home Depot from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $325.00 to $372.00 in a research note on Thursday, January 4th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $368.76.

Check Out Our Latest Analysis on Home Depot

Insider Activity at Home Depot

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the completion of the sale, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Home Depot Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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