Fred Alger Management LLC Increases Stake in The Home Depot, Inc. (NYSE:HD)

Fred Alger Management LLC grew its stake in The Home Depot, Inc. (NYSE:HD – Get Rating) by 11.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 32,666 shares of the home improvement retailer’s stock after buying an additional 3,425 shares during the quarter. Fred Alger Management LLC’s holdings in Home Depot were worth $9,014,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. Oliver Lagore Vanvalin Investment Group grew its stake in Home Depot by 5.4% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 648 shares of the home improvement retailer’s stock valued at $178,000 after purchasing an additional 33 shares in the last quarter. Virtue Capital Management LLC grew its stake in Home Depot by 1.4% during the 3rd quarter. Virtue Capital Management LLC now owns 2,476 shares of the home improvement retailer’s stock valued at $683,000 after purchasing an additional 33 shares in the last quarter. Coastal Bridge Advisors LLC grew its stake in Home Depot by 0.6% during the 3rd quarter. Coastal Bridge Advisors LLC now owns 5,744 shares of the home improvement retailer’s stock valued at $1,585,000 after purchasing an additional 34 shares in the last quarter. Westshore Wealth LLC grew its stake in Home Depot by 2.8% during the 3rd quarter. Westshore Wealth LLC now owns 1,300 shares of the home improvement retailer’s stock valued at $359,000 after purchasing an additional 35 shares in the last quarter. Finally, Bridge Advisory LLC grew its stake in Home Depot by 1.5% during the 3rd quarter. Bridge Advisory LLC now owns 2,507 shares of the home improvement retailer’s stock valued at $692,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Stock Down 0.3 %

Shares of HD stock opened at $285.57 on Wednesday. The company has a debt-to-equity ratio of 26.86, a quick ratio of 0.33 and a current ratio of 1.41. The stock has a market cap of $292.35 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The business’s fifty day moving average is $312.50 and its 200-day moving average is $304.00. The Home Depot, Inc. has a 1 year low of $264.51 and a 1 year high of $347.25.

Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.04. The business had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $36 billion. Home Depot had a return on equity of 4,929.40% and a net margin of 10.87%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.21 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Thursday, March 9th will be issued a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.93%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend is Wednesday, March 8th. Home Depot’s payout ratio is presently 50.12%.

Analyst Ratings Changes

HD has been the topic of a number of research analyst reports. Evercore ISI reduced their target price on Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Barclays reduced their target price on Home Depot from $323.00 to $310.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 22nd. DA Davidson reduced their target price on Home Depot from $334.00 to $306.00 and set a “neutral” rating on the stock in a report on Wednesday, February 22nd. Citigroup reduced their target price on Home Depot from $340.00 to $332.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Finally, UBS Group reduced their target price on Home Depot from $350.00 to $340.00 and set a “buy” rating on the stock in a report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $331.45.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.