Penobscot Investment Management Company Inc. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Penobscot Investment Management Company Inc. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.8% in the 4th quarter, Holdings Channel reports. The fund owned 42,322 shares of the home improvement retailer’s stock after selling 782 shares during the quarter. Home Depot accounts for approximately 1.5% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 14th biggest position. Penobscot Investment Management Company Inc.’s holdings in Home Depot were worth $16,463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Morey & Quinn Wealth Partners LLC acquired a new position in shares of Home Depot in the fourth quarter valued at approximately $1,018,000. Murphy & Mullick Capital Management Corp purchased a new position in Home Depot in the 4th quarter valued at $639,000. Mitsubishi UFJ Trust & Banking Corp grew its position in Home Depot by 2.3% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 548,566 shares of the home improvement retailer’s stock valued at $213,387,000 after buying an additional 12,488 shares during the last quarter. Florida Financial Advisors LLC increased its stake in Home Depot by 1.9% in the 4th quarter. Florida Financial Advisors LLC now owns 4,829 shares of the home improvement retailer’s stock valued at $1,878,000 after buying an additional 88 shares during the period. Finally, Aire Advisors LLC raised its position in Home Depot by 3.5% during the 4th quarter. Aire Advisors LLC now owns 3,047 shares of the home improvement retailer’s stock worth $1,185,000 after buying an additional 102 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Down 0.8 %

HD stock opened at $360.90 on Wednesday. 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 company has a market cap of $358.50 billion, a price-to-earnings ratio of 24.52, a PEG ratio of 4.03 and a beta of 1.09. The business has a fifty day simple moving average of $392.82 and a 200-day simple moving average of $399.16. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 EPS. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS 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 given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.55%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is presently 61.66%.

Analysts Set New Price Targets

HD has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted 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. Royal Bank of Canada reduced their price target on 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 decreased their price target on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $435.85.

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.