Castleark Management LLC Trims Stake in The Home Depot, Inc. (NYSE:HD)

Castleark Management LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 96.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,300 shares of the home improvement retailer's stock after selling 67,590 shares during the period. Castleark Management LLC's holdings in Home Depot were worth $895,000 at the end of the most recent reporting period.

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

Home Depot Stock Down 1.7%

NYSE HD opened at $370.71 on Thursday. 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 Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The business has a 50 day moving average price of $359.38 and a two-hundred day moving average price of $387.66. The stock has a market cap of $368.50 billion, a PE ratio of 25.18, a P/E/G ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.63 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on HD. Wells Fargo & Company decreased their price objective on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Guggenheim reissued a "buy" rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday. KGI Securities upgraded Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. DA Davidson cut their price objective on shares of Home Depot from $470.00 to $450.00 in a report on Tuesday. Finally, JPMorgan Chase & Co. raised their target price on shares of Home Depot from $410.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday. Eight analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Home Depot presently has an average rating of "Moderate Buy" and a consensus target price of $427.92.

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.

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