Savvy Advisors Inc. Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Savvy Advisors Inc. lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 39.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,187 shares of the home improvement retailer’s stock after buying an additional 2,044 shares during the quarter. Savvy Advisors Inc.’s holdings in Home Depot were worth $2,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HD. Norges Bank bought a new stake in Home Depot during the 4th quarter valued at $5,032,910,000. Raymond James Financial Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC raised its holdings in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Vanguard Group Inc. grew its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after acquiring an additional 875,836 shares in the last quarter. Finally, APG Asset Management N.V. increased its position in Home Depot by 559.5% during the 4th quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer’s stock valued at $387,706,000 after purchasing an additional 875,591 shares during the period. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.0 %

Home Depot stock opened at $353.62 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 50-day moving average price of $375.29 and a 200 day moving average price of $395.97. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $351.51 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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 firm earned $2.82 EPS. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HD. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target 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 raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Finally, Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and an average price target of $434.08.

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.