Potomac Fund Management Inc. ADV Invests $1.69 Million in The Home Depot, Inc. (NYSE:HD)

Potomac Fund Management Inc. ADV purchased a new stake in The Home Depot, Inc. (NYSE:HD - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,345 shares of the home improvement retailer's stock, valued at approximately $1,690,000. Home Depot makes up about 1.5% of Potomac Fund Management Inc. ADV's holdings, making the stock its 12th largest position.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Groupama Asset Managment raised its holdings in Home Depot by 36.7% during the fourth quarter. Groupama Asset Managment now owns 56,601 shares of the home improvement retailer's stock worth $22,042,000 after purchasing an additional 15,209 shares in the last quarter. Alliance Wealth Management Group grew its position in shares of Home Depot by 125.1% in the 4th quarter. Alliance Wealth Management Group now owns 1,614 shares of the home improvement retailer's stock valued at $628,000 after buying an additional 897 shares during the last quarter. Trexquant Investment LP acquired a new stake in Home Depot during the 4th quarter worth $6,671,000. May Hill Capital LLC acquired a new position in Home Depot in the fourth quarter valued at $633,000. Finally, Invenio Wealth Partners LLC grew its holdings in shares of Home Depot by 1.8% during the fourth quarter. Invenio Wealth Partners LLC now owns 1,697 shares of the home improvement retailer's stock worth $660,000 after purchasing an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HD has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective 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 report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and increased their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus target price of $435.85.

Remove Ads

Home Depot Price Performance

HD traded up $5.73 during trading on Wednesday, reaching $371.25. 3,178,686 shares of the stock were exchanged, compared to its average volume of 3,441,778. 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 has a market capitalization of $369.03 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.03 and a beta of 1.08. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The business's 50 day moving average price is $388.06 and its two-hundred day moving average price is $398.84.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.82 EPS. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, March 13th. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend 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.