Picton Mahoney Asset Management Sells 349 Shares of The Home Depot, Inc. (NYSE:HD)

Picton Mahoney Asset Management lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 32,381 shares of the home improvement retailer’s stock after selling 349 shares during the period. Picton Mahoney Asset Management’s holdings in Home Depot were worth $12,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its stake in Home Depot by 8.7% in the fourth quarter. Kestra Advisory Services LLC now owns 151,076 shares of the home improvement retailer’s stock valued at $58,767,000 after acquiring an additional 12,100 shares during the period. HMV Wealth Advisors LLC bought a new stake in Home Depot in the fourth quarter valued at about $1,305,000. First National Trust Co increased its stake in Home Depot by 2.0% in the fourth quarter. First National Trust Co now owns 61,591 shares of the home improvement retailer’s stock valued at $23,958,000 after acquiring an additional 1,229 shares during the period. Hughes Financial Services LLC bought a new stake in Home Depot in the fourth quarter valued at about $384,000. Finally, Postrock Partners LLC bought a new stake in Home Depot in the fourth quarter valued at about $268,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent analyst reports. Truist Financial reduced their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wedbush restated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Stock Up 1.1 %

Shares of NYSE:HD opened at $351.16 on Friday. The company has a 50 day moving average price of $397.43 and a two-hundred day moving average price of $399.26. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $348.83 billion, a PE ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09.

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, topping 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 company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter in the prior year, the firm earned $2.82 earnings per share. The firm’s revenue was up 14.1% compared to the same quarter last year. 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. Investors 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. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.62%. Home Depot’s dividend payout ratio is presently 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.