Byrne Asset Management LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Byrne Asset Management LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,790 shares of the home improvement retailer’s stock after selling 70 shares during the period. Home Depot accounts for about 1.3% of Byrne Asset Management LLC’s holdings, making the stock its 17th biggest position. Byrne Asset Management LLC’s holdings in Home Depot were worth $1,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Synergy Asset Management LLC purchased a new stake in Home Depot in the fourth quarter valued at approximately $26,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Sugar Maple Asset Management LLC purchased a new stake in Home Depot in the 4th quarter valued at $41,000. Livelsberger Financial Advisory acquired a new stake in Home Depot during the 3rd quarter worth $46,000. Finally, Finley Financial LLC purchased a new position in Home Depot during the 4th quarter worth $59,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HD shares. Sanford C. Bernstein began coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 target price for the company. Royal Bank of Canada lifted their target price on Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a research note on Monday, November 11th. Bank of America upped their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Finally, Mizuho raised their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. 0.10% of the stock is owned by company insiders.

Home Depot Stock Performance

Shares of NYSE HD opened at $407.39 on Monday. The company has a 50-day simple moving average of $406.14 and a 200-day simple moving average of $394.24. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market cap of $404.68 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 4.22 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 earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the company earned $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Home Depot 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.