Cedar Wealth Management LLC Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cedar Wealth Management LLC trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 53.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226 shares of the home improvement retailer’s stock after selling 258 shares during the period. Cedar Wealth Management LLC’s holdings in Home Depot were worth $88,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of HD. Synergy Asset Management LLC acquired a new stake in Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $32,000. NewSquare Capital LLC increased its holdings in shares of Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in Home Depot during the third quarter worth about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 1.0 %

Home Depot stock opened at $352.12 on Friday. The business’s 50-day simple moving average is $393.97 and its 200-day simple moving average is $398.90. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a market capitalization of $349.78 billion, a PE ratio of 23.92, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Analysts Set New Price Targets

Several brokerages have weighed in on HD. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company increased their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada lowered their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.