The Home Depot, Inc. (NYSE:HD) Shares Sold by 49 Wealth Management LLC

49 Wealth Management LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,089 shares of the home improvement retailer’s stock after selling 35 shares during the quarter. 49 Wealth Management LLC’s holdings in Home Depot were worth $424,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HD. Norges Bank acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $5,032,910,000. Raymond James Financial Inc. acquired a new stake in shares of Home Depot during the fourth quarter worth $2,212,546,000. Proficio Capital Partners LLC lifted its holdings in shares of Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Northern Trust Corp lifted its holdings in shares of Home Depot by 13.3% during the fourth quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $471,189,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Down 1.7%

NYSE:HD opened at $370.71 on Thursday. The company has a market capitalization of $368.50 billion, a PE ratio of 25.18, a price-to-earnings-growth 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. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The stock has a fifty day simple moving average of $359.38 and a 200-day simple moving average of $387.66.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.63 EPS. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HD. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Stifel Nicolaus raised Home Depot from a “hold” rating to a “buy” rating and increased their price target for the stock from $405.00 to $425.00 in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday. Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. increased their price target on Home Depot from $410.00 to $418.00 and gave the stock an “overweight” rating in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $427.92.

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.