FSB Premier Wealth Management Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

FSB Premier Wealth Management Inc. lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,666 shares of the home improvement retailer’s stock after selling 72 shares during the period. FSB Premier Wealth Management Inc.’s holdings in Home Depot were worth $1,037,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HD. SYM FINANCIAL Corp boosted its position in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after purchasing an additional 289 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Home Depot by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock worth $596,140,000 after buying an additional 141,915 shares during the last quarter. United Bank boosted its position in shares of Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares in the last quarter. Edgestream Partners L.P. grew its stake in Home Depot by 352.9% in the 3rd quarter. Edgestream Partners L.P. now owns 10,830 shares of the home improvement retailer’s stock valued at $4,388,000 after acquiring an additional 8,439 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its holdings in Home Depot by 9.0% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 4,185 shares of the home improvement retailer’s stock valued at $1,696,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HD. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Wells Fargo & Company raised their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong 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 $435.85.

Home Depot Price Performance

HD opened at $357.86 on Monday. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a 50 day moving average of $389.98 and a two-hundred day moving average of $398.99. The company has a market cap of $355.72 billion, a P/E ratio of 24.31, a P/E/G ratio of 4.03 and a beta of 1.09. 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 announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping 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 firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company earned $2.82 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.57%. Home Depot’s payout ratio is 61.66%.

Home Depot Company 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.