CORDA Investment Management LLC. Grows Stock Holdings in The Home Depot, Inc. (NYSE:HD)

CORDA Investment Management LLC. grew its position in The Home Depot, Inc. (NYSE:HD) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,183 shares of the home improvement retailer’s stock after buying an additional 95 shares during the quarter. CORDA Investment Management LLC.’s holdings in Home Depot were worth $1,627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HD. Geode Capital Management LLC raised its position in shares of Home Depot by 2.0% in the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after buying an additional 433,126 shares during the last quarter. Fisher Asset Management LLC increased its stake in Home Depot by 2.2% during the third quarter. Fisher Asset Management LLC now owns 9,426,649 shares of the home improvement retailer’s stock worth $3,819,679,000 after acquiring an additional 205,954 shares during the last quarter. FMR LLC raised its holdings in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Home Depot by 5.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Home Depot by 0.3% during the third quarter. Swiss National Bank now owns 2,943,400 shares of the home improvement retailer’s stock worth $1,192,666,000 after purchasing an additional 9,200 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HD. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the company from $356.00 to $410.00 in a research note on Wednesday. Robert W. Baird cut their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Barclays lifted their price target on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Performance

HD opened at $390.44 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’s 50 day moving average is $401.27 and its 200-day moving average is $398.37. The stock has a market cap of $387.85 billion, a PE ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating 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 firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the previous year, the business earned $2.82 EPS. 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 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

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.