Cinctive Capital Management LP Sells 6,029 Shares of The Home Depot, Inc. (NYSE:HD)

Cinctive Capital Management LP lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 25.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 17,832 shares of the home improvement retailer’s stock after selling 6,029 shares during the quarter. Cinctive Capital Management LP’s holdings in Home Depot were worth $6,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of HD. Norges Bank bought a new stake in shares of Home Depot during the fourth quarter worth approximately $5,032,910,000. Raymond James Financial Inc. bought a new stake in Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC increased its position in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Finally, Amundi raised its stake in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. 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. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

Home Depot Trading Down 0.4 %

Shares of HD stock opened at $364.96 on Wednesday. The company has a market cap of $362.78 billion, a P/E ratio of 24.79, a PEG ratio of 4.03 and a beta of 1.08. 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 quick ratio of 0.31 and a current ratio of 1.13. The stock has a 50 day simple moving average of $388.06 and a two-hundred day simple moving average of $398.84.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during 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 business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the company posted $2.82 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio is presently 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.