Edgestream Partners L.P. Sells 7,744 Shares of The Home Depot, Inc. (NYSE:HD)

Edgestream Partners L.P. lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 71.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,086 shares of the home improvement retailer's stock after selling 7,744 shares during the quarter. Edgestream Partners L.P.'s holdings in Home Depot were worth $1,200,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HD. POM Investment Strategies LLC boosted its holdings in Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer's stock worth $824,000 after buying an additional 24 shares during the period. Center for Financial Planning Inc. boosted its stake in shares of Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer's stock worth $1,810,000 after acquiring an additional 24 shares during the period. Insight Inv LLC grew its position in shares of Home Depot by 2.0% during the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer's stock worth $505,000 after purchasing an additional 25 shares in the last quarter. Marino Stram & Associates LLC raised its stake in Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer's stock valued at $431,000 after purchasing an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC lifted its holdings in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer's stock worth $1,912,000 after purchasing an additional 25 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and lifted their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Evercore ISI boosted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $436.50.

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Home Depot Price Performance

Shares of HD stock opened at $368.49 on Wednesday. The stock has a 50 day moving average price of $399.50 and a 200 day moving average price of $400.03. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week 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 firm has a market capitalization of $366.04 billion, a P/E ratio of 25.03, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $2.82 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.50%. 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 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.

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