Harmony Asset Management LLC Lowers Holdings in The Home Depot, Inc. (NYSE:HD)
Harmony Asset Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 6.2% in Q4, now holding 14,017 shares valued at $5.45 million. Other institutional investors also adjusted their positions. Home Depot's stock opened at $370.71, with a market cap of $368.50 billion. The company reported Q1 earnings of $3.56 per share, missing estimates, but revenue increased by 9.4% year-over-year. Home Depot declared a quarterly dividend of $2.30, up from $2.25, with a yield of 2.48%. Analysts maintain a consensus rating of "Moderate Buy" with an average target price of $427.92.
Harmony Asset Management LLC trimmed its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,017 shares of the home improvement retailer's stock after selling 931 shares during the period. Home Depot makes up approximately 2.2% of Harmony Asset Management LLC's holdings, making the stock its 7th largest holding. Harmony Asset Management LLC's holdings in Home Depot were worth $5,453,000 at the end of the most recent reporting period.
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Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $32,000. Finally, Quarry LP grew its stake in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is currently owned by institutional investors.
Home Depot Stock Performance
HD stock opened at $370.71 on Thursday. The business's fifty day moving average is $359.38 and its 200-day moving average is $387.66. 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 cap of $368.50 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.
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Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 EPS. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.
Home Depot Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio is 61.66%.
Analyst Ratings Changes
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HD has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. DA Davidson reduced their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday. Wedbush reissued an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Finally, Morgan Stanley boosted their target price on Home Depot from $410.00 to $415.00 and gave the stock an "overweight" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $427.92.
Get Our Latest Analysis on HD
Home Depot Company Profile
(Free Report)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.
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