Midland Wealth Advisors LLC Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Midland Wealth Advisors LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 58.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,860 shares of the home improvement retailer’s stock after selling 8,335 shares during the period. Midland Wealth Advisors LLC’s holdings in Home Depot were worth $2,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Synergy Asset Management LLC purchased a new position in shares of Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new stake in Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot during the fourth quarter worth $32,000. NewSquare Capital LLC increased its position in Home Depot by 200.0% during 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 purchased a new stake in shares of Home Depot in the third quarter valued at $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

HD opened at $376.66 on Monday. The firm has a market capitalization of $374.16 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business’s 50-day moving average is $400.21 and its two-hundred day moving average is $400.02. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.82 EPS. 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 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 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Thursday, March 13th. 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%.

Wall Street Analyst Weigh In

A number of research firms recently commented on HD. Wells Fargo & Company lifted 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. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Truist Financial decreased their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, Mizuho upped their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Company 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.