Sumitomo Mitsui Financial Group Inc. Trims Stake in The Home Depot, Inc. (NYSE:HD)

Sumitomo Mitsui Financial Group Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 11,851 shares of the home improvement retailer’s stock after selling 174 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Home Depot were worth $4,610,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HD. Synergy Asset Management LLC purchased a new position in Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth about $41,000. Finally, Marshall Investment Management LLC purchased a new stake in Home Depot during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $353.78 on Monday. 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 company has a 50-day moving average of $384.89 and a 200-day moving average of $398.35. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.82 earnings per share. Analysts forecast 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HD. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Gordon Haskett downgraded Home Depot from a “buy” rating to a “hold” rating in a report on Friday. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company boosted their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Ten equities 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’s stock. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

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.