Steadfast Capital Management LP Sells 107,803 Shares of The Home Depot, Inc. (NYSE:HD)

Steadfast Capital Management LP trimmed its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 72.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,700 shares of the home improvement retailer's stock after selling 107,803 shares during the quarter. Steadfast Capital Management LP's holdings in Home Depot were worth $15,832,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. bought a new position in Home Depot during the fourth quarter worth about $28,000. Navigoe LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth about $32,000. Finally, Quarry LP raised its position in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 66 shares during the period. 70.86% of the stock is owned by institutional investors.

Home Depot Trading Up 0.6%

HD opened at $380.74 on Friday. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock has a 50-day moving average of $358.12 and a 200 day moving average of $388.02. The firm has a market cap of $378.46 billion, a P/E ratio of 25.87, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company's revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.82 earnings per share. As a group, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.42%. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HD. Royal Bank of Canada decreased their price target on 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. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Gordon Haskett downgraded Home Depot from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Robert W. Baird dropped their price objective on Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $430.32.

Home Depot 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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