The Home Depot, Inc. (NYSE:HD) Position Trimmed by Holderness Investments Co.

Holderness Investments Co. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 3.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,226 shares of the home improvement retailer’s stock after selling 545 shares during the quarter. Home Depot comprises approximately 1.5% of Holderness Investments Co.’s portfolio, making the stock its 10th largest holding. Holderness Investments Co.’s holdings in Home Depot were worth $6,701,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Synergy Asset Management LLC acquired a new position in shares of Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Home Depot in the fourth quarter valued at about $32,000. NewSquare Capital LLC lifted its position in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after purchasing an additional 68 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot in the third quarter valued at about $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock opened at $353.35 on Thursday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market capitalization of $351.01 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 4.03 and a beta of 1.09. The company has a fifty day simple moving average of $395.36 and a 200-day simple moving average of $399.08. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, equities analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HD. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird dropped their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Wedbush reiterated an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

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.