Ridgecrest Wealth Partners LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Ridgecrest Wealth Partners LLC trimmed its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 47.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,412 shares of the home improvement retailer's stock after selling 1,298 shares during the period. Ridgecrest Wealth Partners LLC's holdings in Home Depot were worth $549,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HD. Legacy Investment Solutions LLC purchased a new stake in Home Depot during the third quarter worth about $41,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the 3rd quarter worth approximately $46,000. Strategic Investment Solutions Inc. IL purchased a new position in Home Depot in the second quarter valued at approximately $47,000. Finally, Quarry LP grew its holdings in Home Depot by 36.0% during the second quarter. Quarry LP now owns 136 shares of the home improvement retailer's stock valued at $47,000 after purchasing an additional 36 shares during the period. 70.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HD. Barclays upped their price target on Home Depot from $372.00 to $420.00 and gave the company an "overweight" rating in a research report on Tuesday, November 5th. TD Cowen increased their target price on shares of Home Depot from $440.00 to $460.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Gordon Haskett raised shares of Home Depot from an "accumulate" rating to a "buy" rating and set a $450.00 price target on the stock in a research report on Wednesday, October 2nd. Mizuho raised their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an "outperform" rating in a report on Wednesday, November 13th. Finally, Bank of America boosted their target price on shares of Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average target price of $426.00.

Home Depot Trading Up 0.3 %

Shares of HD stock traded up $1.14 on Thursday, hitting $414.56. 3,069,842 shares of the company's stock traded hands, compared to its average volume of 3,196,606. The stock has a market capitalization of $411.81 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 4.32 and a beta of 1.05. The company's fifty day simple moving average is $407.93 and its 200 day simple moving average is $391.93. The Home Depot, Inc. has a one year low of $323.77 and a one year 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.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.64 by $0.14. The firm had revenue of $40.22 billion for the quarter, compared to analysts' expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the firm earned $3.81 earnings per share. Equities analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Wednesday, November 27th. Home Depot's payout ratio is 61.14%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the sale, the executive vice president now owns 20,404 shares of the company's stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last three months. 0.10% of the stock is owned by insiders.

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.