Fortis Capital Management LLC Has $859,000 Holdings in The Home Depot, Inc. (NYSE:HD)

Fortis Capital Management LLC cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 23.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,208 shares of the home improvement retailer’s stock after selling 669 shares during the period. Fortis Capital Management LLC’s holdings in Home Depot were worth $859,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. 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 Home Depot in the fourth quarter valued at approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in Home Depot in the fourth quarter valued at approximately $32,000. NewSquare Capital LLC increased its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in Home Depot in the third quarter valued at approximately $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price objective for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Guggenheim reissued a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Truist Financial decreased their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

Shares of NYSE HD opened at $352.12 on Friday. The firm’s 50-day moving average price is $393.97 and its 200-day moving average price is $398.90. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The firm has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter in the prior year, the business earned $2.82 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts anticipate 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 will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.61%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

About Home Depot

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.