Principal Street Partners LLC Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Principal Street Partners LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 7.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,845 shares of the home improvement retailer's stock after selling 1,268 shares during the period. Home Depot comprises 1.3% of Principal Street Partners LLC's holdings, making the stock its 23rd biggest position. Principal Street Partners LLC's holdings in Home Depot were worth $6,552,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HD. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter worth approximately $28,000. Navigoe LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the 4th quarter valued at approximately $32,000. Finally, Quarry LP increased its stake in Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Stock Performance

HD stock traded down $6.34 during midday trading on Wednesday, hitting $370.71. 3,965,127 shares of the stock traded hands, compared to its average volume of 3,436,754. The firm has a market cap of $368.50 billion, a P/E ratio of 25.18, a PEG ratio of 4.03 and a beta of 1.05. 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 stock's fifty day simple moving average is $359.38 and its 200-day simple moving average is $387.66. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). The firm had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.63 EPS. On average, analysts expect 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. Shareholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.48%. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is presently 61.66%.

Analysts Set New Price Targets

A number of research analysts have issued reports on HD shares. TD Securities restated a "buy" rating and set a $470.00 price target on shares of Home Depot in a research note on Wednesday. Mizuho cut their price target on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating on the stock in a research note on Wednesday. Guggenheim restated a "buy" rating and set a $450.00 price target on shares of Home Depot in a research note on Wednesday. Robert W. Baird cut their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, DA Davidson cut their price target on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.