Cornerstone Advisors LLC Has $23.30 Million Position in The Home Depot, Inc. (NYSE:HD)

Cornerstone Advisors LLC raised its holdings in The Home Depot, Inc. (NYSE:HD) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,900 shares of the home improvement retailer’s stock after buying an additional 1,100 shares during the period. Home Depot accounts for about 0.9% of Cornerstone Advisors LLC’s portfolio, making the stock its 23rd largest holding. Cornerstone Advisors LLC’s holdings in Home Depot were worth $23,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. King Luther Capital Management Corp increased its stake in Home Depot by 0.5% in the 4th quarter. King Luther Capital Management Corp now owns 1,243,912 shares of the home improvement retailer’s stock valued at $483,869,000 after buying an additional 6,437 shares during the last quarter. Sage Mountain Advisors LLC increased its stake in shares of Home Depot by 34.1% during the 4th quarter. Sage Mountain Advisors LLC now owns 11,359 shares of the home improvement retailer’s stock worth $4,419,000 after purchasing an additional 2,886 shares during the last quarter. Riverbend Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $944,000. Davis R M Inc. increased its stake in shares of Home Depot by 0.4% during the 4th quarter. Davis R M Inc. now owns 151,002 shares of the home improvement retailer’s stock worth $58,738,000 after purchasing an additional 586 shares during the last quarter. Finally, Clare Market Investments LLC acquired a new position in shares of Home Depot during the 4th quarter worth about $472,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE HD opened at $374.13 on Tuesday. The firm has a 50-day moving average price of $399.91 and a two-hundred day moving average price of $400.08. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $371.65 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm posted $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on HD shares. Mizuho boosted their price objective on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $436.50.

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.