Associated Banc Corp Sells 427 Shares of The Home Depot, Inc. (NYSE:HD)

Associated Banc Corp trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,137 shares of the home improvement retailer’s stock after selling 427 shares during the quarter. Associated Banc Corp’s holdings in Home Depot were worth $9,778,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Synergy Asset Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $32,000. NewSquare Capital LLC lifted its position in shares of 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 buying an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of Home Depot in the third quarter valued at approximately $41,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

Home Depot stock opened at $351.16 on Friday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market capitalization of $348.83 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The stock has a fifty day moving average of $397.43 and a 200-day moving average of $399.26.

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

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wells Fargo & Company raised their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Truist Financial dropped their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $436.50.

About Home Depot

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.