Taylor Frigon Capital Management LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Taylor Frigon Capital Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 54.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,906 shares of the home improvement retailer’s stock after selling 3,525 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Home Depot were worth $1,130,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in HD. Synergy Asset Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Home Depot in the fourth quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $32,000. Legacy Investment Solutions LLC bought a new stake in shares of Home Depot in the third quarter valued at about $41,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Home Depot in the fourth quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Down 0.7 %

Home Depot stock opened at $390.40 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $387.81 billion, a PE ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The stock’s 50 day simple moving average is $401.17 and its two-hundred day simple moving average is $398.42. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.82 EPS. Analysts anticipate 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. Stockholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.14%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Truist Financial reduced their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus boosted their target price on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Evercore ISI boosted their target price on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. boosted their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Robert W. Baird reduced their target price on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday. Eight research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $436.50.

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.