Magnus Financial Group LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

Magnus Financial Group LLC cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,064 shares of the home improvement retailer’s stock after selling 84 shares during the quarter. Magnus Financial Group LLC’s holdings in Home Depot were worth $1,755,000 as of its most recent filing with the Securities & Exchange Commission.

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 shares of Home Depot by 3.7% in the 3rd quarter. Congress Wealth Management LLC DE now owns 88,444 shares of the home improvement retailer’s stock worth $26,725,000 after purchasing an additional 3,162 shares during the last quarter. Hartline Investment Corp lifted its stake in shares of Home Depot by 3.0% in the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock worth $5,397,000 after buying an additional 460 shares in the last quarter. Wolf Group Capital Advisors grew its holdings in shares of 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 valued at about $253,000. Finally, Psagot Value Holdings Ltd. Israel boosted 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 purchasing an additional 200 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock traded up $3.11 during midday trading on Friday, reaching $335.09. 2,465,262 shares of the stock traded hands, compared to its average volume of 3,779,238. The stock has a market cap of $332.08 billion, a P/E ratio of 22.19, a PEG ratio of 2.23 and a beta of 0.98. The stock’s fifty day moving average is $364.77 and its 200-day moving average is $340.97. 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 12 month low of $274.26 and a 12 month high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly 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 analysts’ expectations 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 quarterly revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced 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 represents a $9.00 annualized dividend and a dividend yield of 2.69%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s payout ratio is currently 59.60%.

Insider Activity at Home Depot

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HD. Citigroup increased their price objective on shares of Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Stifel Nicolaus boosted their price objective on shares of Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. HSBC reiterated a “reduce” rating and set a $323.00 target price on shares of Home Depot in a research report on Wednesday, April 3rd. Finally, TD Cowen upped their price target on Home Depot from $415.00 to $440.00 and gave the stock an “outperform” rating in a research report on Monday, March 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $375.96.

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.