Magnolia Capital Advisors LLC Buys Shares of 1,790 Home Depot Inc (NYSE:HD)

Magnolia Capital Advisors LLC bought a new stake in shares of Home Depot Inc (NYSE:HD) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,790 shares of the home improvement retailer’s stock, valued at approximately $391,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank bought a new position in shares of Home Depot in the 4th quarter worth $2,558,090,000. AQR Capital Management LLC raised its position in shares of Home Depot by 75.1% in the 4th quarter. AQR Capital Management LLC now owns 2,593,292 shares of the home improvement retailer’s stock worth $563,212,000 after acquiring an additional 1,112,175 shares in the last quarter. Johanson Financial Advisors Inc. raised its position in shares of Home Depot by 22,049.5% in the 4th quarter. Johanson Financial Advisors Inc. now owns 919,869 shares of the home improvement retailer’s stock worth $4,213,000 after acquiring an additional 915,716 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its position in shares of Home Depot by 13.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 5,218,065 shares of the home improvement retailer’s stock worth $1,139,473,000 after acquiring an additional 605,158 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Home Depot by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 16,765,579 shares of the home improvement retailer’s stock worth $3,655,255,000 after acquiring an additional 586,305 shares in the last quarter. 69.73% of the stock is owned by institutional investors and hedge funds.

In related news, EVP William G. Lennie sold 9,848 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $234.34, for a total value of $2,307,780.32. Following the completion of the transaction, the executive vice president now owns 37,995 shares of the company’s stock, valued at approximately $8,903,748.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Several research analysts recently issued reports on the company. Nomura reduced their target price on Home Depot from $251.00 to $204.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Credit Suisse Group raised Home Depot from a “neutral” rating to an “outperform” rating and upped their target price for the company from $225.00 to $235.00 in a research report on Thursday, December 12th. Wedbush reduced their target price on Home Depot from $230.00 to $225.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. upped their target price on Home Depot from $241.00 to $260.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating and set a $232.00 target price on the stock in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $243.20.

NYSE HD traded down $5.59 during trading hours on Tuesday, reaching $190.52. The company’s stock had a trading volume of 4,060,583 shares, compared to its average volume of 10,365,154. The firm has a market capitalization of $207.86 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.68 and a beta of 0.94. Home Depot Inc has a 1-year low of $140.63 and a 1-year high of $247.36. The company’s 50-day moving average is $215.50 and its two-hundred day moving average is $224.39.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. The company had revenue of $25.78 billion during the quarter, compared to analysts’ expectations of $25.78 billion. Home Depot had a negative return on equity of 599.49% and a net margin of 10.20%. Home Depot’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.25 EPS. As a group, sell-side analysts expect that Home Depot Inc will post 10.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were issued a $1.50 dividend. This is a boost from Home Depot’s previous quarterly dividend of $1.36. The ex-dividend date was Wednesday, March 11th. This represents a $6.00 dividend on an annualized basis and a yield of 3.15%. Home Depot’s dividend payout ratio is presently 58.54%.

Home Depot Company Profile

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

Featured Article: What is the S&P 500 Index?

Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Home Depot Inc (NYSE:HD).

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

Receive News & Ratings for Home Depot Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Home Depot and related companies with MarketBeat.com's FREE daily email newsletter.