The Home Depot, Inc. (NYSE:HD) Stock Position Reduced by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,019,194 shares of the home improvement retailer's stock after selling 99,600 shares during the quarter. Home Depot makes up 0.7% of Adage Capital Partners GP L.L.C.'s investment portfolio, making the stock its 21st largest position. Adage Capital Partners GP L.L.C. owned approximately 0.10% of Home Depot worth $396,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Syon Capital LLC grew its position in shares of Home Depot by 2.0% during the fourth quarter. Syon Capital LLC now owns 7,121 shares of the home improvement retailer's stock worth $2,770,000 after acquiring an additional 143 shares during the last quarter. MGO One Seven LLC increased its stake in Home Depot by 13.8% in the fourth quarter. MGO One Seven LLC now owns 25,894 shares of the home improvement retailer's stock valued at $10,073,000 after purchasing an additional 3,147 shares during the period. Alta Advisers Ltd raised its holdings in shares of Home Depot by 23.0% in the fourth quarter. Alta Advisers Ltd now owns 3,321 shares of the home improvement retailer's stock valued at $1,292,000 after buying an additional 621 shares during the last quarter. Steel Grove Capital Advisors LLC boosted its stake in shares of Home Depot by 15.1% during the fourth quarter. Steel Grove Capital Advisors LLC now owns 1,970 shares of the home improvement retailer's stock worth $766,000 after buying an additional 259 shares during the period. Finally, Harvest Investment Services LLC grew its holdings in shares of Home Depot by 84.0% during the fourth quarter. Harvest Investment Services LLC now owns 1,038 shares of the home improvement retailer's stock worth $404,000 after buying an additional 474 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research note on Wednesday, February 26th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $434.08.

Home Depot Stock Performance

Shares of HD stock opened at $359.45 on Friday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company's fifty day moving average price is $364.88 and its two-hundred day moving average price is $392.79. The firm has a market capitalization of $357.30 billion, a P/E ratio of 24.42, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the previous year, the firm posted $2.82 earnings per share. The company's revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is 61.66%.

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.