The Home Depot, Inc. (NYSE:HD) Shares Sold by Balboa Wealth Partners

Balboa Wealth Partners reduced its position in The Home Depot, Inc. (NYSE:HD) by 7.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,783 shares of the home improvement retailer’s stock after selling 319 shares during the quarter. Balboa Wealth Partners’ holdings in Home Depot were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC raised its stake in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Home Depot during the third quarter worth approximately $336,231,000. FMR LLC raised its stake in shares of Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the last quarter. Finally, Amundi raised its stake in shares of Home Depot by 8.6% during the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock worth $2,925,498,000 after purchasing an additional 599,490 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 0.9 %

HD opened at $364.82 on Thursday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $362.39 billion, a P/E ratio of 24.78, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The business’s fifty day simple moving average is $399.01 and its 200 day simple moving average is $399.78.

Home Depot (NYSE:HD) last posted its quarterly earnings data 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. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.82 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared 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 represents a $9.20 dividend on an annualized basis and a yield of 2.52%. This is a positive change 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 (DPR) is presently 61.66%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Piper Sandler cut their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.