Tang Capital Management LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Tang Capital Management LLC boosted its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 42.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,353 shares of the home improvement retailer's stock after buying an additional 999 shares during the period. Tang Capital Management LLC's holdings in Home Depot were worth $1,304,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Hsbc Global Res upgraded shares of Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a research report on Tuesday. Morgan Stanley raised their target price on shares of Home Depot from $410.00 to $415.00 and gave the company an "overweight" rating in a research report on Tuesday. Wells Fargo & Company cut their target price on shares of Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Finally, Royal Bank of Canada cut their target price on shares of Home Depot from $424.00 to $399.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 15th. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $424.60.

Home Depot Stock Down 0.7%

HD traded down $2.54 during midday trading on Tuesday, hitting $376.84. The company had a trading volume of 6,282,223 shares, compared to its average volume of 3,437,990. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week 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 $374.59 billion, a price-to-earnings ratio of 25.60, a PEG ratio of 4.03 and a beta of 1.05. The stock's 50 day moving average price is $358.40 and its 200 day moving average price is $387.85.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly 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 company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $3.63 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.44%. Home Depot's payout ratio is presently 61.66%.

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.