Tower Bridge Advisors Has $8.77 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Tower Bridge Advisors grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,555 shares of the home improvement retailer’s stock after purchasing an additional 45 shares during the period. Tower Bridge Advisors’ holdings in Home Depot were worth $8,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new stake 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. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot during the 3rd quarter worth approximately $41,000. Finally, Sugar Maple Asset Management LLC bought a new position in Home Depot in the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a research note on Wednesday. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Wells Fargo & Company increased their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Up 1.6 %

Shares of NYSE HD opened at $396.69 on Friday. The stock has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a 50-day moving average price of $401.36 and a 200-day moving average price of $398.72. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the company earned $2.82 earnings per share. On average, equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. 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 dividend yield of 2.32%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Home Depot Company 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.