PCG Asset Management LLC Invests $1.65 Million in The Home Depot, Inc. (NYSE:HD)

PCG Asset Management LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,244 shares of the home improvement retailer’s stock, valued at approximately $1,651,000. Home Depot accounts for about 1.4% of PCG Asset Management LLC’s portfolio, making the stock its 20th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in HD. POM Investment Strategies LLC raised its position in shares of Home Depot by 1.1% during the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. increased its position in Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock valued at $1,810,000 after purchasing an additional 24 shares during the period. Insight Inv LLC raised its holdings in Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares during the last quarter. Marino Stram & Associates LLC lifted its position in shares of Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC boosted its stake in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock valued at $1,912,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

HD has been the topic of several recent analyst reports. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Barclays boosted their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday. Mizuho lifted their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Finally, Robert W. Baird cut their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Trading Up 1.6 %

NYSE HD opened at $396.69 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The business has a fifty day simple moving average of $401.36 and a 200 day simple moving average of $399.06. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The firm has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last announced its 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 the consensus estimate of $39.15 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.32%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.