West Michigan Advisors LLC Sells 119 Shares of The Home Depot, Inc. (NYSE:HD)

West Michigan Advisors LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,860 shares of the home improvement retailer’s stock after selling 119 shares during the quarter. West Michigan Advisors LLC’s holdings in Home Depot were worth $2,279,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC acquired a new position in Home Depot in the fourth quarter valued at about $41,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HD shares. Royal Bank of Canada decreased their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday. Robert W. Baird decreased their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Price Performance

NYSE:HD opened at $396.69 on Friday. 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 stock’s 50 day moving average price is $401.36 and its two-hundred day moving average price is $398.72. The firm has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.82 earnings per share. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.32%. Home Depot’s dividend payout ratio is currently 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.