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

Westchester Capital Management Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,652 shares of the home improvement retailer's stock after selling 805 shares during the quarter. Home Depot makes up 3.5% of Westchester Capital Management Inc.'s portfolio, making the stock its 14th biggest position. Westchester Capital Management Inc.'s holdings in Home Depot were worth $13,868,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Geode Capital Management LLC grew its stake in shares of Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer's stock worth $8,767,449,000 after purchasing an additional 433,126 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Home Depot by 1.3% during 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 purchasing an additional 125,441 shares during the last quarter. FMR LLC lifted its holdings in shares of Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer's stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Home Depot by 5.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer's stock valued at $3,253,952,000 after purchasing an additional 409,890 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer's stock valued at $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Down 1.6 %

Shares of Home Depot stock opened at $368.49 on Wednesday. The stock has a market cap of $366.04 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a fifty day simple moving average of $399.50 and a 200 day simple moving average of $400.03. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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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 (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 return on equity of 452.60% and a net margin of 9.45%. Home Depot's revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 earnings per share. Research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's payout ratio is 61.66%.

Analysts Set New Price Targets

HD has been the subject of several research analyst reports. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Royal Bank of Canada lowered their price objective on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Finally, Bank of America raised their target price on Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Nine 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $436.50.

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.

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