Tennessee Valley Asset Management Partners Sells 296 Shares of The Home Depot, Inc. (NYSE:HD)


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Tennessee Valley Asset Management Partners reduced its stake in The Home Depot, Inc. (NYSE:HD) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,437 shares of the home improvement retailer’s stock after selling 296 shares during the period. The Home Depot accounts for 0.5% of Tennessee Valley Asset Management Partners’ holdings, making the stock its 23rd biggest holding. Tennessee Valley Asset Management Partners’ holdings in The Home Depot were worth $1,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. FMR LLC boosted its stake in shares of The Home Depot by 1.8% during the fourth quarter. FMR LLC now owns 21,267,809 shares of the home improvement retailer’s stock valued at $5,649,155,000 after purchasing an additional 372,183 shares in the last quarter. Norges Bank purchased a new position in shares of The Home Depot during the fourth quarter worth $3,153,816,000. Morgan Stanley grew its position in The Home Depot by 10.6% during the fourth quarter. Morgan Stanley now owns 11,028,573 shares of the home improvement retailer’s stock valued at $2,929,410,000 after buying an additional 1,058,223 shares during the period. Bank of New York Mellon Corp grew its position in The Home Depot by 2.8% during the fourth quarter. Bank of New York Mellon Corp now owns 10,917,691 shares of the home improvement retailer’s stock valued at $2,899,957,000 after buying an additional 293,800 shares during the period. Finally, Alliancebernstein L.P. grew its position in The Home Depot by 11.8% during the fourth quarter. Alliancebernstein L.P. now owns 9,402,719 shares of the home improvement retailer’s stock valued at $2,497,550,000 after buying an additional 991,241 shares during the period. Institutional investors and hedge funds own 68.71% of the company’s stock.

HD has been the topic of several analyst reports. UBS Group raised their price target on shares of The Home Depot from $305.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, April 14th. Guggenheim upgraded shares of The Home Depot from a “neutral” rating to a “buy” rating and set a $310.00 price target on the stock in a research report on Wednesday, January 13th. JPMorgan Chase & Co. raised their price target on shares of The Home Depot from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company raised their price target on shares of The Home Depot from $310.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. Finally, Zelman & Associates lowered shares of The Home Depot from a “buy” rating to a “hold” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $304.65.

HD stock traded down $1.21 during trading on Monday, reaching $326.87. 90,401 shares of the stock were exchanged, compared to its average volume of 4,579,232. The company has a current ratio of 1.36, a quick ratio of 0.72 and a debt-to-equity ratio of 21.39. The business has a 50 day moving average price of $288.24 and a 200-day moving average price of $278.18. The Home Depot, Inc. has a 1 year low of $199.51 and a 1 year high of $328.67. The firm has a market capitalization of $351.46 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 2.13 and a beta of 1.03.

The Home Depot (NYSE:HD) last issued its earnings results on Monday, February 22nd. The home improvement retailer reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.02. The Home Depot had a net margin of 9.94% and a negative return on equity of 910.85%. The company had revenue of $32.26 billion for the quarter, compared to the consensus estimate of $27.10 billion. During the same period in the previous year, the firm earned $2.28 earnings per share. The Home Depot’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, research analysts anticipate that The Home Depot, Inc. will post 11.76 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 11th were paid a $1.65 dividend. This represents a $6.60 dividend on an annualized basis and a dividend yield of 2.02%. This is an increase from The Home Depot’s previous quarterly dividend of $1.50. The ex-dividend date was Wednesday, March 10th. The Home Depot’s payout ratio is 64.39%.

About The Home Depot

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for The Home Depot (NYSE:HD)

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