Promus Capital LLC Takes Position in The Home Depot, Inc. (NYSE:HD)

Promus Capital LLC bought a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, HoldingsChannel reports. The fund bought 144 shares of the home improvement retailer’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the third quarter worth about $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

NYSE:HD opened at $386.82 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market cap of $384.25 billion, a price-to-earnings ratio of 26.28, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a 50 day moving average price of $400.81 and a 200-day moving average price of $399.62. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.82 EPS. Equities research analysts forecast 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 issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.38%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is 61.66%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HD. Mizuho increased their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Bank of America increased their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.