The Home Depot, Inc. (NYSE:HD) Stock Position Decreased by West Michigan Advisors LLC

West Michigan Advisors LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,860 shares of the home improvement retailer’s stock after selling 119 shares during the period. West Michigan Advisors LLC’s holdings in Home Depot were worth $2,279,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the 3rd quarter valued at approximately $41,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at approximately $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on HD shares. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday. Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday. Finally, Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Up 1.6 %

HD stock opened at $396.69 on Friday. The company has a market cap of $394.06 billion, a P/E ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve 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. The business has a fifty day moving average of $401.36 and a 200-day moving average of $398.72.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 earnings per share. As a group, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is presently 61.66%.

Home Depot 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.