Wheelhouse Advisory Group LLC Acquires New Holdings in The Home Depot, Inc. (NYSE:HD)

Wheelhouse Advisory Group LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, HoldingsChannel reports. The fund acquired 722 shares of the home improvement retailer’s stock, valued at approximately $250,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE raised its position in Home Depot by 3.7% in the third quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after acquiring an additional 3,162 shares during the period. Wolf Group Capital Advisors raised its position in Home Depot by 6.1% in the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock worth $2,604,000 after acquiring an additional 430 shares during the period. Alliance Wealth Management Group bought a new position in Home Depot in the fourth quarter worth approximately $253,000. Psagot Value Holdings Ltd. Israel raised its position in Home Depot by 8.0% in the third quarter. Psagot Value Holdings Ltd. Israel now owns 2,700 shares of the home improvement retailer’s stock worth $819,000 after acquiring an additional 200 shares during the period. Finally, Zullo Investment Group Inc. raised its position in Home Depot by 6.6% in the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock worth $2,826,000 after acquiring an additional 504 shares during the period. Institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

HD has been the subject of a number of analyst reports. HSBC reissued a “reduce” rating and issued a $323.00 price objective on shares of Home Depot in a research note on Wednesday, April 3rd. Mizuho assumed coverage on shares of Home Depot in a research note on Tuesday, March 19th. They issued a “buy” rating and a $415.00 price objective for the company. Bank of America lifted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. The Goldman Sachs Group raised their target price on shares of Home Depot from $347.00 to $393.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Finally, StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot Stock Up 0.7 %

Shares of Home Depot stock opened at $335.36 on Friday. The firm’s 50 day moving average price is $367.36 and its 200-day moving average price is $339.21. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87. The company has a market cap of $332.35 billion, a P/E ratio of 22.21, a PEG ratio of 2.22 and a beta of 0.98.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.68%. The ex-dividend date was Wednesday, March 6th. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is currently 59.60%.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.