Forum Private Client Group LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

Forum Private Client Group LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 25.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 728 shares of the home improvement retailer’s stock after selling 247 shares during the quarter. Forum Private Client Group LLC’s holdings in Home Depot were worth $283,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HD. Norges Bank purchased a new position in shares of Home Depot during the fourth quarter worth $5,032,910,000. Raymond James Financial Inc. acquired a new position in Home Depot during the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC lifted its stake in Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after acquiring an additional 2,030,372 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after acquiring an additional 875,836 shares during the period. Finally, Amundi grew its position in Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after acquiring an additional 599,490 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Gordon Haskett cut Home Depot from a “buy” rating to a “hold” rating in a research note on Friday. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Down 0.6 %

NYSE HD opened at $353.78 on Friday. The firm’s fifty day moving average is $384.89 and its two-hundred day moving average is $398.25. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market cap of $351.67 billion, a PE ratio of 24.03, a P/E/G ratio of 4.03 and a beta of 1.08.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 EPS. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s 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.