Ridgecrest Wealth Partners LLC Has $549,000 Stake in The Home Depot, Inc. (NYSE:HD)

Ridgecrest Wealth Partners LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 47.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,412 shares of the home improvement retailer’s stock after selling 1,298 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Home Depot were worth $549,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HD. Pegasus Asset Management Inc. grew its position in shares of Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after acquiring an additional 86 shares during the period. Pensionfund Sabic grew its holdings in Home Depot by 51.4% during the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after purchasing an additional 3,800 shares during the period. Swedbank AB increased its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after buying an additional 132,967 shares during the last quarter. Wedmont Private Capital raised its stake in Home Depot by 12.5% in the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock valued at $5,291,000 after buying an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $1,793,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on HD. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price target for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Telsey Advisory Group upgraded shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. Sanford C. Bernstein started coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. Bank of America raised their price objective on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, TD Cowen upped their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity at Home Depot

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock worth $15,624,585 over the last three months. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Down 1.3 %

Shares of HD opened at $413.46 on Thursday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market capitalization of $410.72 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 4.32 and a beta of 1.05. The stock has a fifty day moving average of $407.66 and a 200-day moving average of $391.78.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analysts’ expectations of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.81 earnings per share. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.18%. Home Depot’s dividend payout ratio is 61.14%.

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.