SP Asset Management LLC Sells 441 Shares of The Home Depot, Inc. (NYSE:HD)

SP Asset Management LLC cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 45,521 shares of the home improvement retailer’s stock after selling 441 shares during the period. Home Depot makes up approximately 1.5% of SP Asset Management LLC’s investment portfolio, making the stock its 18th largest holding. SP Asset Management LLC’s holdings in Home Depot were worth $17,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the 4th quarter valued at about $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at about $32,000. NewSquare Capital LLC raised its stake in shares of Home Depot by 200.0% in the 4th 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 acquired a new stake in shares of Home Depot in the 3rd quarter valued at about $41,000. 70.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HD has been the topic of a number of recent research reports. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Wells Fargo & Company lifted their target price on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a research 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 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 report on Wednesday, February 26th. Nine 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Trading Up 1.3 %

Shares of HD stock opened at $386.82 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 stock has a market cap of $384.25 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The stock has a 50 day simple moving average of $400.81 and a 200 day simple moving average of $399.62. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37.

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

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors 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 dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is 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.