Notis McConarty Edward Decreases Stake in The Home Depot, Inc. (NYSE:HD)

Notis McConarty Edward trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,903 shares of the home improvement retailer’s stock after selling 359 shares during the quarter. Home Depot accounts for about 1.9% of Notis McConarty Edward’s investment portfolio, making the stock its 20th biggest position. Notis McConarty Edward’s holdings in Home Depot were worth $3,852,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HD. Pioneer Trust Bank N A OR raised its holdings in Home Depot by 6.4% in the fourth quarter. Pioneer Trust Bank N A OR now owns 710 shares of the home improvement retailer’s stock valued at $276,000 after acquiring an additional 43 shares in the last quarter. Wealth Advisors of Tampa Bay LLC increased its position in shares of Home Depot by 1.2% in the 4th quarter. Wealth Advisors of Tampa Bay LLC now owns 13,082 shares of the home improvement retailer’s stock worth $5,089,000 after purchasing an additional 155 shares during the last quarter. Broderick Brian C raised its stake in shares of Home Depot by 3.4% in the 4th quarter. Broderick Brian C now owns 35,736 shares of the home improvement retailer’s stock valued at $13,901,000 after purchasing an additional 1,172 shares in the last quarter. Hurlow Wealth Management Group Inc. lifted its position in shares of Home Depot by 1.3% during the fourth quarter. Hurlow Wealth Management Group Inc. now owns 2,137 shares of the home improvement retailer’s stock worth $831,000 after purchasing an additional 27 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new position in Home Depot in the fourth quarter worth about $945,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report 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 stock from $356.00 to $410.00 in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Robert W. Baird decreased their price target on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Truist Financial dropped their price objective 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. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Price Performance

Shares of NYSE:HD opened at $353.78 on Friday. The stock has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The stock’s 50 day moving average price is $384.89 and its 200 day moving average price is $398.15.

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. 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 company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. 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 firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $2.30 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s payout ratio 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.