Malaga Cove Capital LLC Sells 184 Shares of The Home Depot, Inc. (NYSE:HD)

Malaga Cove Capital LLC lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,713 shares of the home improvement retailer’s stock after selling 184 shares during the period. Malaga Cove Capital LLC’s holdings in Home Depot were worth $666,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in HD. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the 4th quarter valued at about $28,000. Navigoe LLC acquired a new position in shares of Home Depot during the 4th quarter worth approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter worth approximately $32,000. Finally, Quarry LP raised its position in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HD shares. JPMorgan Chase & Co. reduced their price target on Home Depot from $470.00 to $410.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird decreased their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Morgan Stanley decreased their target price on shares of Home Depot from $450.00 to $410.00 and set an “overweight” rating on the stock in a report on Monday, May 5th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.32.

Home Depot Stock Performance

NYSE:HD opened at $373.66 on Wednesday. The stock’s 50-day moving average is $357.86 and its 200-day moving average is $388.40. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year 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 $371.43 billion, a P/E ratio of 25.38, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its 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 net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the company earned $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.46%. Home Depot’s payout ratio is currently 61.66%.

Home Depot Company 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.