Cornerstone Advisors LLC Acquires 1,100 Shares of The Home Depot, Inc. (NYSE:HD)

Cornerstone Advisors LLC boosted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,900 shares of the home improvement retailer’s stock after purchasing an additional 1,100 shares during the period. Home Depot comprises 0.9% of Cornerstone Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Cornerstone Advisors LLC’s holdings in Home Depot were worth $23,301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth approximately $32,000. NewSquare Capital LLC increased its holdings in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at approximately $41,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.7 %

HD opened at $374.13 on Tuesday. The stock has a market capitalization of $371.65 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The firm’s fifty day simple moving average is $399.91 and its 200 day simple moving average is $400.08. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted 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. The business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.82 EPS. As a group, research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Analysts Set New Price Targets

A number of analysts recently weighed in on HD shares. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Guggenheim reissued a “buy” rating and issued a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.