Catalyst Funds Management Pty Ltd Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Catalyst Funds Management Pty Ltd lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 76.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,400 shares of the home improvement retailer’s stock after selling 4,600 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Home Depot were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HD. SYM FINANCIAL Corp raised its holdings in Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after acquiring an additional 289 shares during the last quarter. Swedbank AB grew its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after purchasing an additional 132,967 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Home Depot by 10.7% in the third quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after purchasing an additional 141,915 shares during the last quarter. United Bank lifted its position in Home Depot by 4.2% during the third quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its stake in Home Depot by 81.8% during the third quarter. Impax Asset Management Group plc now owns 9,558 shares of the home improvement retailer’s stock worth $3,873,000 after buying an additional 4,300 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Price Performance

Home Depot stock opened at $351.16 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a fifty day simple moving average of $397.43 and a 200-day simple moving average of $399.44. The stock has a market cap of $348.83 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $39.15 billion. During the same period in the previous year, the business earned $2.82 EPS. Home Depot’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Piper Sandler reduced their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. increased their price target 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. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Nine research 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 company’s stock. Based on data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.