Meritage Portfolio Management Sells 52,926 Shares of The Home Depot, Inc. (NYSE:HD)


Share on StockTwits

Meritage Portfolio Management reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 93.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,650 shares of the home improvement retailer’s stock after selling 52,926 shares during the quarter. Meritage Portfolio Management’s holdings in The Home Depot were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Concorde Asset Management LLC increased its stake in shares of The Home Depot by 2.6% in the 1st quarter. Concorde Asset Management LLC now owns 2,647 shares of the home improvement retailer’s stock valued at $808,000 after acquiring an additional 66 shares during the last quarter. Capital Investment Advisors LLC increased its stake in The Home Depot by 3.1% during the 1st quarter. Capital Investment Advisors LLC now owns 227,882 shares of the home improvement retailer’s stock worth $69,561,000 after purchasing an additional 6,867 shares in the last quarter. Stratos Wealth Advisors LLC increased its stake in The Home Depot by 15.8% during the 1st quarter. Stratos Wealth Advisors LLC now owns 10,402 shares of the home improvement retailer’s stock worth $3,175,000 after purchasing an additional 1,422 shares in the last quarter. Red Door Wealth Management LLC increased its stake in The Home Depot by 12.2% during the 1st quarter. Red Door Wealth Management LLC now owns 8,720 shares of the home improvement retailer’s stock worth $2,670,000 after purchasing an additional 946 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in The Home Depot by 9.3% during the 1st quarter. Stratos Wealth Partners LTD. now owns 98,196 shares of the home improvement retailer’s stock worth $29,974,000 after purchasing an additional 8,394 shares in the last quarter. 68.71% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently issued reports on HD shares. UBS Group increased their target price on The Home Depot from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, April 20th. Wells Fargo & Company increased their target price on The Home Depot from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, March 29th. They noted that the move was a valuation call. Credit Suisse Group reaffirmed a “buy” rating and set a $319.00 price target on shares of The Home Depot in a research report on Thursday, March 25th. Citigroup assumed coverage on The Home Depot in a research report on Monday, March 15th. They set a “buy” rating and a $288.00 price target for the company. Finally, Guggenheim raised The Home Depot from a “neutral” rating to a “buy” rating and set a $310.00 price target for the company in a research report on Wednesday, January 13th. Five investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. The Home Depot has a consensus rating of “Buy” and a consensus target price of $304.65.

HD stock opened at $330.27 on Tuesday. The Home Depot, Inc. has a 1-year low of $215.21 and a 1-year high of $331.62. The company has a current ratio of 1.36, a quick ratio of 0.72 and a debt-to-equity ratio of 21.39. The stock’s fifty day simple moving average is $309.92 and its two-hundred day simple moving average is $281.73. The stock has a market cap of $355.11 billion, a P/E ratio of 28.57, a P/E/G ratio of 2.13 and a beta of 1.03.

The Home Depot (NYSE:HD) last released its quarterly earnings data on Monday, February 22nd. The home improvement retailer reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.02. The business had revenue of $32.26 billion during the quarter, compared to analysts’ expectations of $27.10 billion. The Home Depot had a negative return on equity of 910.85% and a net margin of 9.94%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the business posted $2.28 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 11.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 25th. Stockholders of record on Thursday, March 11th were given a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 2.00%. This is an increase from The Home Depot’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Wednesday, March 10th. The Home Depot’s payout ratio is presently 64.39%.

The Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

Featured Article: What is Net Asset Value (NAV)?

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

Receive News & Ratings for The Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.