The Home Depot, Inc. (NYSE:HD) Stake Raised by Meritage Portfolio Management

Meritage Portfolio Management grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 7.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,778 shares of the home improvement retailer’s stock after purchasing an additional 322 shares during the quarter. Meritage Portfolio Management’s holdings in Home Depot were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HD. Synergy Asset Management LLC bought a new stake in Home Depot during the fourth quarter worth approximately $26,000. Legacy Investment Solutions LLC bought a new stake in Home Depot during the third quarter worth approximately $41,000. Sugar Maple Asset Management LLC bought a new stake in Home Depot during the fourth quarter worth approximately $41,000. Livelsberger Financial Advisory bought a new stake in Home Depot during the third quarter worth approximately $46,000. Finally, Finley Financial LLC bought a new stake in Home Depot during the fourth quarter worth approximately $59,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. Morgan Stanley boosted their target price on Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Mizuho upped their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Evercore ISI upped their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and upped their price target for the company from $360.00 to $455.00 in a report on Friday, November 8th. Finally, Royal Bank of Canada upped their price target on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of Home Depot stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

HD stock opened at $413.92 on Friday. The firm has a 50 day moving average of $406.84 and a two-hundred day moving average of $393.55. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a market capitalization of $411.18 billion, a price-to-earnings ratio of 28.12, a P/E/G ratio of 4.34 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.81 EPS. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is currently 61.14%.

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.