Lord Abbett & CO. LLC Has $43.86 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Lord Abbett & CO. LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,748 shares of the home improvement retailer's stock after selling 12,602 shares during the quarter. Lord Abbett & CO. LLC's holdings in Home Depot were worth $43,858,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the last quarter. Geode Capital Management LLC boosted its position in Home Depot by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 21,957,463 shares of the home improvement retailer's stock valued at $8,525,046,000 after purchasing an additional 257,036 shares during the last quarter. Norges Bank acquired a new position in Home Depot during the fourth quarter valued at approximately $5,032,910,000. Capital Research Global Investors lifted its position in shares of Home Depot by 5.5% in the fourth quarter. Capital Research Global Investors now owns 12,455,582 shares of the home improvement retailer's stock valued at $4,845,098,000 after buying an additional 647,552 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer's stock valued at $3,715,668,000 after buying an additional 125,441 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.2 %

Shares of Home Depot stock traded down $0.73 on Monday, hitting $356.85. The stock had a trading volume of 2,403,485 shares, compared to its average volume of 3,460,764. The stock has a 50 day moving average of $363.97 and a 200 day moving average of $392.11. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month 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 $354.72 billion, a P/E ratio of 24.24, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company 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. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HD shares. HSBC raised Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and set a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada decreased their price target on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $434.08.

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.