Cresset Asset Management LLC Reduces Position in The Home Depot, Inc. (NYSE:HD)

Cresset Asset Management LLC cut its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 50.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,470 shares of the home improvement retailer's stock after selling 64,270 shares during the quarter. Cresset Asset Management LLC's holdings in Home Depot were worth $24,300,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its stake in Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer's stock worth $596,140,000 after buying an additional 141,915 shares during the period. Bangor Savings Bank increased its position in shares of Home Depot by 0.8% during the fourth quarter. Bangor Savings Bank now owns 3,609 shares of the home improvement retailer's stock worth $1,404,000 after purchasing an additional 30 shares in the last quarter. Diversified Trust Co lifted its holdings in shares of Home Depot by 21.5% in the 4th quarter. Diversified Trust Co now owns 47,804 shares of the home improvement retailer's stock valued at $18,596,000 after purchasing an additional 8,464 shares during the last quarter. Spartan Planning & Wealth Management acquired a new stake in shares of Home Depot in the 4th quarter valued at about $790,000. Finally, One Wealth Capital Management LLC purchased a new position in Home Depot during the 4th quarter worth approximately $411,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HD shares. Hsbc Global Res raised Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and increased their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their target price on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. dropped 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. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Home Depot has a consensus rating of "Moderate Buy" and an average price target of $430.12.

Home Depot Price Performance

Home Depot stock opened at $359.58 on Wednesday. The stock has a market capitalization of $357.43 billion, a P/E ratio of 24.43, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm's 50-day moving average is $359.78 and its two-hundred day moving average is $389.58.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data 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. 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 quarter in the prior year, the firm posted $2.82 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend 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.

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