Carmel Capital Partners LLC Sells 4,929 Shares of The Home Depot, Inc. (NYSE:HD)

Carmel Capital Partners LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 79,195 shares of the home improvement retailer’s stock after selling 4,929 shares during the quarter. Home Depot accounts for 12.4% of Carmel Capital Partners LLC’s portfolio, making the stock its 2nd largest position. Carmel Capital Partners LLC’s holdings in Home Depot were worth $30,806,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HD. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot during the third quarter valued at $41,000. Finally, Marshall Investment Management LLC acquired a new stake in Home Depot during the fourth quarter valued at $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Stifel Nicolaus lifted their price objective on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Up 1.3 %

HD stock opened at $386.82 on Thursday. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market cap of $384.25 billion, a P/E ratio of 26.28, a P/E/G ratio of 4.03 and a beta of 1.05. The business’s 50 day moving average is $400.81 and its 200-day moving average is $399.62. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

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.