Mitchell Sinkler & Starr PA Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Mitchell Sinkler & Starr PA cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 39.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,132 shares of the home improvement retailer’s stock after selling 17,913 shares during the quarter. Home Depot accounts for 2.8% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its 6th largest holding. Mitchell Sinkler & Starr PA’s holdings in Home Depot were worth $10,554,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of HD. Vanguard Group Inc. raised its holdings in shares of Home Depot by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Geode Capital Management LLC raised its stake in Home Depot by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after purchasing an additional 433,126 shares during the period. Norges Bank purchased a new stake in shares of Home Depot in the fourth quarter valued at $5,032,910,000. Fisher Asset Management LLC boosted its position in shares of Home Depot by 1.3% in the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after buying an additional 125,441 shares during the period. Finally, Amundi grew its holdings 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 valued at $2,925,498,000 after buying an additional 599,490 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HD. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Royal Bank of Canada decreased their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. KGI Securities raised shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Finally, Wells Fargo & Company upped their price target on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Nine 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $357.86 on Friday. The company has a market cap of $355.72 billion, a price-to-earnings ratio of 24.31, a PEG ratio of 4.03 and a beta of 1.09. The business has a 50 day moving average price of $389.98 and a 200 day moving average price of $398.60. 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 Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last announced 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 during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.82 earnings per share. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

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.