Metis Global Partners LLC Raises Stake in The Home Depot, Inc. (NYSE:HD)

Metis Global Partners LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 15.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,893 shares of the home improvement retailer’s stock after acquiring an additional 7,570 shares during the quarter. Home Depot makes up about 0.8% of Metis Global Partners LLC’s portfolio, making the stock its 22nd biggest holding. Metis Global Partners LLC’s holdings in Home Depot were worth $19,716,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HD. Bare Financial Services Inc purchased a new position in Home Depot during the fourth quarter worth about $26,000. Keener Financial Planning LLC acquired a new position in Home Depot during the fourth quarter worth $31,000. PFG Private Wealth Management LLC boosted its position in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the period. Gilfoyle & Co LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at $35,000. Finally, Briaud Financial Planning Inc purchased a new position in Home Depot during the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD traded up $7.32 during mid-day trading on Friday, reaching $342.85. 4,165,054 shares of the stock were exchanged, compared to its average volume of 3,606,830. The stock has a market capitalization of $339.77 billion, a P/E ratio of 22.71, a P/E/G ratio of 2.28 and a beta of 1.01. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87. The company has a 50 day simple moving average of $361.75 and a 200-day simple moving average of $342.77. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter in the prior year, the firm earned $3.30 EPS. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.63%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is currently 59.60%.

Insider Activity at Home Depot

In other news, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Zelman & Associates raised shares of Home Depot from a “neutral” rating to an “outperform” rating in a research report on Tuesday, April 2nd. StockNews.com lowered shares of Home Depot from a “buy” rating to a “hold” rating in a report on Friday. Wedbush boosted their price target on shares of Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Evercore ISI cut their price objective on Home Depot from $420.00 to $415.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada increased their price objective on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $375.96.

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.