Pallas Capital Advisors LLC Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Pallas Capital Advisors LLC reduced its position in The Home Depot, Inc. (NYSE:HDFree Report) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 963 shares of the home improvement retailer’s stock after selling 634 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Home Depot were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. True North Advisors LLC raised its position in Home Depot by 5.2% in the fourth quarter. True North Advisors LLC now owns 2,958 shares of the home improvement retailer’s stock valued at $1,025,000 after purchasing an additional 146 shares during the period. Chicago Capital LLC raised its position in Home Depot by 103.2% in the fourth quarter. Chicago Capital LLC now owns 19,475 shares of the home improvement retailer’s stock valued at $6,749,000 after purchasing an additional 9,889 shares during the period. PFG Private Wealth Management LLC raised its position in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 32 shares during the period. Covenant Asset Management LLC raised its position in Home Depot by 10.2% in the fourth quarter. Covenant Asset Management LLC now owns 6,277 shares of the home improvement retailer’s stock valued at $2,175,000 after purchasing an additional 583 shares during the period. Finally, Bensler LLC raised its position in Home Depot by 0.3% in the fourth quarter. Bensler LLC now owns 12,725 shares of the home improvement retailer’s stock valued at $4,410,000 after purchasing an additional 42 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value 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 $39,712,878.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction 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 directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was 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 in the company, valued at $27,950,123.26. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of HD stock opened at $363.00 on Wednesday. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The firm has a market capitalization of $359.74 billion, a price-to-earnings ratio of 24.04, a price-to-earnings-growth ratio of 2.53 and a beta of 0.98. The business has a 50 day simple moving average of $369.63 and a 200 day simple moving average of $335.67. The company has a debt-to-equity ratio of 40.94, a current ratio of 1.35 and a quick ratio of 0.40.

Home Depot (NYSE:HDGet Free Report) last issued its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,339.65% and a net margin of 9.92%. The business had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. During the same period in the prior year, the company posted $3.30 EPS. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.39 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.48%. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio is 59.60%.

Analysts Set New Price Targets

HD has been the topic of several research reports. TD Cowen raised their price objective on Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Citigroup boosted their price target on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Telsey Advisory Group boosted their price target on Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research note on Monday. Guggenheim boosted their price target on Home Depot from $370.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, DA Davidson reiterated a “neutral” rating and issued a $370.00 price target on shares of Home Depot in a research note on Monday. 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. Based on data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $376.35.

Check Out Our Latest Report on Home Depot

About Home Depot

(Free Report)

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 d├ęcor 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.

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

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