Westchester Capital Management Inc. Has $13.87 Million Position in The Home Depot, Inc. (NYSE:HD)

Westchester Capital Management Inc. cut its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 35,652 shares of the home improvement retailer’s stock after selling 805 shares during the period. Home Depot accounts for about 3.5% of Westchester Capital Management Inc.’s holdings, making the stock its 14th largest position. Westchester Capital Management Inc.’s holdings in Home Depot were worth $13,868,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot in the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Finally, Marshall Investment Management LLC bought a new position in shares of Home Depot in the 4th quarter valued at $41,000. 70.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HD has been the subject of a number of recent research reports. Mizuho increased their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Wedbush restated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler decreased their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Nine equities 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

HD stock opened at $368.49 on Wednesday. The firm has a 50 day moving average price of $399.50 and a 200-day moving average price of $400.03. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The firm has a market capitalization of $366.04 billion, a price-to-earnings ratio of 25.03, a PEG ratio of 4.03 and a beta of 1.09. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (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 analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $2.82 earnings per share. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 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.