AdvisorShares Investments LLC Makes New Investment in The Home Depot, Inc. (NYSE:HD)

AdvisorShares Investments LLC acquired a new stake in The Home Depot, Inc. (NYSE:HD – Get Rating) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,880 shares of the home improvement retailer’s stock, valued at approximately $2,025,000.

A number of other hedge funds have also bought and sold shares of HD. Camden National Bank lifted its position in shares of Home Depot by 9.7% during the fourth quarter. Camden National Bank now owns 2,563 shares of the home improvement retailer’s stock worth $681,000 after purchasing an additional 226 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Home Depot by 1.4% in the second quarter. Morgan Stanley now owns 11,505,713 shares of the home improvement retailer’s stock valued at $3,669,058,000 after buying an additional 162,299 shares during the period. Keudell Morrison Wealth Management raised its position in shares of Home Depot by 0.5% during the third quarter. Keudell Morrison Wealth Management now owns 9,467 shares of the home improvement retailer’s stock worth $3,108,000 after purchasing an additional 46 shares during the period. AJ Wealth Strategies LLC purchased a new position in Home Depot during the 3rd quarter worth approximately $242,000. Finally, RMB Capital Management LLC increased its holdings in shares of Home Depot by 7.3% in the 3rd quarter. RMB Capital Management LLC now owns 20,198 shares of the home improvement retailer’s stock valued at $6,630,000 after purchasing an additional 1,371 shares during the period. Hedge funds and other institutional investors own 69.52% of the company’s stock.

A number of equities analysts have recently commented on the company. Edward Jones upgraded Home Depot from a “hold” rating to a “buy” rating in a research note on Friday, February 25th. Citigroup cut their target price on shares of Home Depot from $445.00 to $377.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Telsey Advisory Group lowered their price objective on shares of Home Depot from $425.00 to $375.00 and set an “outperform” rating for the company in a research report on Wednesday, February 23rd. JPMorgan Chase & Co. cut their price target on shares of Home Depot from $406.00 to $365.00 in a research report on Wednesday, February 23rd. Finally, DA Davidson increased their target price on shares of Home Depot from $395.00 to $420.00 in a research report on Thursday, December 30th. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $392.83.

In other Home Depot news, EVP Hector A. Padilla sold 504 shares of the company’s stock in a transaction on Friday, March 25th. The shares were sold at an average price of $309.80, for a total transaction of $156,139.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Shares of NYSE:HD opened at $304.86 on Wednesday. The company has a market capitalization of $315.03 billion, a PE ratio of 19.64, a P/E/G ratio of 1.95 and a beta of 1.04. The company has a current ratio of 1.01, a quick ratio of 0.24 and a debt-to-equity ratio of 35.47. The business’s fifty day simple moving average is $333.01 and its 200-day simple moving average is $361.31. The Home Depot, Inc. has a 12-month low of $298.40 and a 12-month high of $420.61.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings data on Tuesday, February 22nd. The home improvement retailer reported $3.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.20 by $0.01. Home Depot had a return on equity of 2,082.76% and a net margin of 10.87%. The firm had revenue of $35.72 billion during the quarter, compared to analysts’ expectations of $34.85 billion. During the same quarter last year, the firm earned $2.74 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts predict that The Home Depot, Inc. will post 16.04 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 24th. Stockholders of record on Thursday, March 10th were paid a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, March 9th. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Home Depot’s previous quarterly dividend of $1.65. Home Depot’s dividend payout ratio is presently 48.97%.

About Home Depot (Get Rating)

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, building materials, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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