Capital Group Investment Management PTE. LTD. Sells 2,279 Shares of The Home Depot, Inc. (NYSE:HD)

Capital Group Investment Management PTE. LTD. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 21.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,299 shares of the home improvement retailer’s stock after selling 2,279 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Home Depot were worth $3,228,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HD. Norges Bank acquired a new position in shares of Home Depot in the fourth quarter valued at about $5,032,910,000. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at $2,212,546,000. Proficio Capital Partners LLC boosted its stake in shares of 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 acquiring an additional 2,030,372 shares in the last quarter. Vanguard Group Inc. raised its holdings in Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock worth $37,251,142,000 after purchasing an additional 875,836 shares during the period. Finally, APG Asset Management N.V. grew its holdings in Home Depot by 559.5% in the fourth quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer’s stock valued at $387,706,000 after purchasing an additional 875,591 shares during the period. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Up 2.6 %

HD stock opened at $354.85 on Friday. The company’s 50 day moving average is $370.53 and its two-hundred day moving average is $394.69. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 stock has a market cap of $352.73 billion, a P/E ratio of 24.11, a PEG ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. Research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.59%. Home Depot’s dividend payout ratio is currently 61.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HD shares. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Royal Bank of Canada dropped their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $434.08.

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.