Cary Street Partners Investment Advisory LLC Cuts Stock Position in The Home Depot, Inc. (NYSE:HD)

Cary Street Partners Investment Advisory LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 78.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,049 shares of the home improvement retailer’s stock after selling 39,695 shares during the quarter. Home Depot comprises about 1.1% of Cary Street Partners Investment Advisory LLC’s investment portfolio, making the stock its 21st largest position. Cary Street Partners Investment Advisory LLC’s holdings in Home Depot were worth $3,829,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC increased its position in shares of Home Depot by 12,647.4% during the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after purchasing an additional 5,525,791 shares during the last quarter. Jennison Associates LLC boosted its stake in Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock worth $1,506,659,000 after buying an additional 1,207,388 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Home Depot during the third quarter valued at $207,210,000. Envestnet Asset Management Inc. increased its position in Home Depot by 20.6% during the third quarter. Envestnet Asset Management Inc. now owns 2,468,902 shares of the home improvement retailer’s stock valued at $746,003,000 after acquiring an additional 421,619 shares during the last quarter. Finally, California Public Employees Retirement System raised its stake in shares of Home Depot by 11.3% in the third quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock valued at $1,032,904,000 after acquiring an additional 346,641 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 0.9 %

HD traded down $3.08 on Tuesday, hitting $333.72. The company had a trading volume of 1,068,591 shares, compared to its average volume of 3,317,566. The stock has a market capitalization of $330.72 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 2.23 and a beta of 0.98. The stock has a fifty day moving average price of $364.25 and a 200-day moving average price of $341.58. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion for the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the previous year, the firm earned $3.30 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.70%. Home Depot’s dividend payout ratio is presently 59.60%.

Wall Street Analyst Weigh In

HD has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating and set a $390.00 price target on shares of Home Depot in a report on Friday, April 5th. Mizuho began coverage on Home Depot in a report on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price target on the stock. Bank of America raised their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. HSBC reaffirmed a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a research report on Wednesday, April 3rd. Finally, TD Cowen increased their target price on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $375.96.

Insider Activity

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Company insiders own 0.10% of the company’s stock.

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.