Tower Bridge Advisors Grows Holdings in The Home Depot, Inc. (NYSE:HD)

Tower Bridge Advisors increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% during the 4th quarter, Holdings Channel reports. The firm owned 22,555 shares of the home improvement retailer’s stock after purchasing an additional 45 shares during the quarter. Tower Bridge Advisors’ holdings in Home Depot were worth $8,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after acquiring an additional 433,126 shares during the period. Fisher Asset Management LLC raised its position in Home Depot by 2.2% in the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after acquiring an additional 205,954 shares during the period. FMR LLC raised its position in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock worth $3,253,952,000 after acquiring an additional 409,890 shares during the period. Finally, Swiss National Bank raised its position in Home Depot by 0.3% in the third quarter. Swiss National Bank now owns 2,943,400 shares of the home improvement retailer’s stock worth $1,192,666,000 after acquiring an additional 9,200 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HD has been the topic of several research reports. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday. Robert W. Baird lowered their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday. Barclays boosted their price target on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada lowered their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus boosted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Price Performance

Shares of Home Depot stock opened at $396.69 on Friday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a fifty day moving average of $401.36 and a 200-day moving average of $398.72. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend 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.