Premier Fund Managers Ltd Invests $20.02 Million in The Home Depot, Inc. (NYSE:HD)

Premier Fund Managers Ltd acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 51,395 shares of the home improvement retailer’s stock, valued at approximately $20,023,000.

A number of other large investors have also modified their holdings of the company. Synergy Asset Management LLC bought a new position in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter worth $39,000. Finally, NewSquare Capital LLC grew its position in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on HD. Royal Bank of Canada decreased their target price 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. Guggenheim reissued a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Robert W. Baird dropped their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Performance

NYSE:HD opened at $362.96 on Friday. The stock has a market cap of $360.55 billion, a P/E ratio of 24.66, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a 50-day moving average of $391.01 and a two-hundred day moving average of $398.65. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the prior year, the business posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 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.