IPG Investment Advisors LLC Reduces Stock Position in The Home Depot, Inc. (NYSE:HD)

IPG Investment Advisors LLC trimmed its position in The Home Depot, Inc. (NYSE:HD) by 3.2% in the 4th quarter, HoldingsChannel reports. The firm owned 6,937 shares of the home improvement retailer’s stock after selling 228 shares during the quarter. IPG Investment Advisors LLC’s holdings in Home Depot were worth $2,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter worth $5,032,910,000. Raymond James Financial Inc. purchased a new stake in Home Depot in the fourth quarter valued at $2,212,546,000. Proficio Capital Partners LLC grew its position in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Vanguard Group Inc. raised its stake in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after buying an additional 875,836 shares during the last quarter. Finally, Amundi lifted its holdings in shares of Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after buying an additional 599,490 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Guggenheim reaffirmed a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Wells Fargo & Company raised their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Nine research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Performance

Shares of Home Depot stock opened at $357.86 on Friday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The business has a 50-day moving average of $389.98 and a 200 day moving average of $398.80. The stock has a market capitalization of $355.72 billion, a price-to-earnings ratio of 24.31, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company posted $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side 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 was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 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.