Clune & Associates LTD. Makes New Investment in The Home Depot, Inc. (NYSE:HD)

Clune & Associates LTD. bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 569 shares of the home improvement retailer’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the fourth quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot during the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot during the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC acquired a new stake in Home Depot in the fourth quarter worth about $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

NYSE HD opened at $363.97 on Tuesday. The firm has a market cap of $361.55 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The stock’s 50-day moving average is $393.46 and its two-hundred day moving average is $399.16. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. 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 released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for 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 company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.82 earnings per share. On average, analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.53%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is 61.66%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Royal Bank of Canada cut 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. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

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.