Saiph Capital LLC Decreases Position in The Home Depot, Inc. (NYSE:HD)

Saiph Capital LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD) by 10.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,011 shares of the home improvement retailer’s stock after selling 230 shares during the quarter. Home Depot accounts for 0.3% of Saiph Capital LLC’s investment portfolio, making the stock its 26th biggest position. Saiph Capital LLC’s holdings in Home Depot were worth $782,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Home Depot in the fourth quarter valued at about $2,212,546,000. Proficio Capital Partners LLC increased its position in shares of Home Depot by 21,394.9% in the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after acquiring an additional 2,030,372 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Home Depot in the third quarter valued at about $336,231,000. FMR LLC increased its position in shares of Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the period. Finally, Amundi increased its position in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after buying an additional 599,490 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Down 1.3 %

HD opened at $349.39 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a 50 day moving average price of $396.03 and a 200-day moving average price of $399.40. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a market capitalization of $347.07 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 2.63%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Home Depot 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.