Alta Capital Management LLC Has $33.97 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Alta Capital Management LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 15.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,339 shares of the home improvement retailer’s stock after selling 16,341 shares during the period. Home Depot comprises 2.0% of Alta Capital Management LLC’s portfolio, making the stock its 20th biggest position. Alta Capital Management LLC’s holdings in Home Depot were worth $33,974,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings 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. bought a new position in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Home Depot in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America upped their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

Shares of NYSE HD opened at $389.03 on Tuesday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The firm has a fifty day simple moving average of $401.29 and a 200 day simple moving average of $399.57. The company has a market capitalization of $386.45 billion, a PE ratio of 26.43, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

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

Home Depot Increases Dividend

The business 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 $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.36%. This is a boost 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%.

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.