The Home Depot, Inc. (NYSE:HD) Stake Lowered by Alta Capital Management LLC

Alta Capital Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,339 shares of the home improvement retailer’s stock after selling 16,341 shares during the quarter. Home Depot makes up 2.0% of Alta Capital Management LLC’s portfolio, making the stock its 20th largest holding. Alta Capital Management LLC’s holdings in Home Depot were worth $33,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot during the third quarter worth approximately $41,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Down 1.9 %

Shares of NYSE:HD opened at $389.03 on Tuesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The firm has a fifty day moving average price of $401.29 and a 200 day moving average price of $399.57. The stock has a market capitalization of $386.45 billion, a PE ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on HD shares. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Bank of America upped their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $436.50.

About Home Depot

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.