AlphaQuest LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

AlphaQuest LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 19.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 552 shares of the home improvement retailer’s stock after selling 134 shares during the quarter. AlphaQuest LLC’s holdings in Home Depot were worth $215,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new position in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $32,000. NewSquare Capital LLC lifted its position in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in Home Depot during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HD shares. Royal Bank of Canada decreased their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Performance

Home Depot stock opened at $351.16 on Monday. 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 stock has a fifty day moving average of $397.43 and a two-hundred day moving average of $399.63. The company has a market capitalization of $348.83 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 earnings per share. On average, 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. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.62%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

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.