CWA Asset Management Group LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,918 shares of the home improvement retailer’s stock after buying an additional 534 shares during the period. CWA Asset Management Group LLC’s holdings in Home Depot were worth $3,448,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in HD. Renaissance Technologies LLC purchased a new stake in Home Depot during the first quarter worth about $563,524,000. Public Investment Fund acquired a new position in Home Depot during the second quarter worth about $450,346,000. Charles Schwab Investment Management Inc. raised its position in Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares during the last quarter. Altshuler Shaham Ltd acquired a new position in Home Depot during the third quarter worth about $341,915,000. Finally, Vanguard Group Inc. raised its position in Home Depot by 1.1% during the third quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock worth $26,059,943,000 after acquiring an additional 1,011,858 shares during the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.
Analyst Ratings Changes
HD has been the subject of a number of research reports. Evercore ISI cut their target price on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Loop Capital cut their target price on shares of Home Depot from $310.00 to $300.00 and set a “hold” rating for the company in a research report on Wednesday, February 22nd. Credit Suisse Group cut their price objective on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Cowen cut their price objective on shares of Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Finally, Barclays cut their price objective on shares of Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $331.45.
Home Depot Price Performance
Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.04. The business had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.
Home Depot Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be issued a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a yield of 2.90%. Home Depot’s dividend payout ratio is currently 50.12%.
About Home Depot
The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.
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