The Home Depot, Inc. (NYSE:HD) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 14.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,929 shares of the home improvement retailer's stock after selling 8,102 shares during the period. Home Depot makes up about 2.0% of Cornerstone Capital Inc.'s investment portfolio, making the stock its 19th largest holding. Cornerstone Capital Inc.'s holdings in Home Depot were worth $18,644,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $32,000. Sellwood Investment Partners LLC purchased a new stake in Home Depot during the fourth quarter valued at approximately $39,000. Finally, NewSquare Capital LLC raised its position in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HD shares. Robert W. Baird reduced their price objective 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. Royal Bank of Canada decreased their price objective 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 reiterated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Guggenheim reiterated a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Home Depot presently has a consensus rating of "Moderate Buy" and a consensus price target of $434.08.

Home Depot Price Performance

HD traded up $2.12 during trading on Wednesday, hitting $356.55. The company's stock had a trading volume of 1,625,273 shares, compared to its average volume of 3,464,513. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $354.42 billion, a price-to-earnings ratio of 24.22, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The business's fifty day simple moving average is $366.92 and its 200 day simple moving average is $393.38.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analyst estimates of $39.15 billion. During the same period in the prior year, the business earned $2.82 earnings per share. The business's revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is presently 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.