The Home Depot, Inc. (NYSE:HD) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 46.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,484 shares of the home improvement retailer’s stock after selling 3,827 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Home Depot were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 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 grew 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 purchasing 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 and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on HD shares. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler decreased their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Finally, KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. 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, Home Depot currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $353.35 on Thursday. The company’s fifty day simple moving average is $395.36 and its 200-day simple moving average is $399.08. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. 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 company has a market cap of $351.01 billion, a PE ratio of 24.00, a P/E/G ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.