Souders Financial Advisors Cuts Position in The Home Depot, Inc. (NYSE:HD)

Souders Financial Advisors lessened its position in The Home Depot, Inc. (NYSE:HD) by 16.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 14,397 shares of the home improvement retailer’s stock after selling 2,830 shares during the period. Souders Financial Advisors’ holdings in Home Depot were worth $5,600,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of Home Depot in the fourth quarter valued at about $934,000. Laffer Tengler Investments Inc. lifted its stake in shares of Home Depot by 16.2% in the 4th quarter. Laffer Tengler Investments Inc. now owns 31,972 shares of the home improvement retailer’s stock valued at $12,437,000 after purchasing an additional 4,460 shares during the last quarter. Glass Wealth Management Co LLC increased its position in Home Depot by 10.0% during the fourth quarter. Glass Wealth Management Co LLC now owns 649 shares of the home improvement retailer’s stock valued at $252,000 after acquiring an additional 59 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Home Depot in the fourth quarter worth about $115,000. Finally, Alley Investment Management Company LLC grew its position in Home Depot by 2.0% in the 4th quarter. Alley Investment Management Company LLC now owns 53,639 shares of the home improvement retailer’s stock valued at $20,865,000 after acquiring an additional 1,060 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 2.1 %

Shares of HD opened at $381.55 on Wednesday. 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 stock has a market capitalization of $379.02 billion, a P/E ratio of 25.92, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The business’s 50-day moving average price is $401.00 and its 200 day moving average price is $399.71.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.82 EPS. Analysts expect 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 will be paid on Thursday, March 27th. Stockholders 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 dividend yield of 2.41%. This is an increase 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%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of research reports. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Barclays increased their price objective on shares of Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird lowered their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. boosted their price objective on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.