Vestcor Inc Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Vestcor Inc lowered its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,381 shares of the home improvement retailer's stock after selling 1,521 shares during the quarter. Vestcor Inc's holdings in Home Depot were worth $9,873,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. K.J. Harrison & Partners Inc increased its stake in Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after purchasing an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after acquiring an additional 3,873 shares during the last quarter. Pensionfund Sabic lifted its position in Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock valued at $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Swedbank AB boosted its stake in Home Depot by 17.1% during the 3rd quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Finally, Wedmont Private Capital increased its holdings in Home Depot by 12.5% during the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after purchasing an additional 1,506 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. Evercore ISI raised their target price on Home Depot from $420.00 to $430.00 and gave the company an "outperform" rating in a report on Wednesday, November 13th. Royal Bank of Canada cut 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 report on Wednesday, February 26th. Bank of America increased their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Telsey Advisory Group reiterated an "outperform" rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a research note on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot currently has an average rating of "Moderate Buy" and an average price target of $436.50.

Home Depot Trading Down 4.7 %

Shares of NYSE:HD traded down $17.31 on Thursday, reaching $347.42. 7,058,750 shares of the company traded hands, compared to its average volume of 3,450,554. The stock has a market capitalization of $345.12 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business's 50-day simple moving average is $398.19 and its 200 day simple moving average is $399.42. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

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

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.65%. This is a boost from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) 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.