EFG Asset Management North America Corp. Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

EFG Asset Management North America Corp. trimmed its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,443 shares of the home improvement retailer’s stock after selling 497 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Home Depot were worth $5,232,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new position in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot during the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the 3rd quarter valued at $41,000. Finally, Marshall Investment Management LLC acquired a new stake in shares of Home Depot in the 4th quarter worth $41,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Robert W. Baird reduced their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Finally, Truist Financial cut their target price 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. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Stock Up 3.7 %

Home Depot stock opened at $363.97 on Tuesday. The firm has a market capitalization of $361.55 billion, a P/E ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. The stock’s fifty day simple moving average is $393.46 and its 200-day simple moving average is $399.16. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month 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.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the company earned $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.53%. 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 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.