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

Westover Capital Advisors LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,630 shares of the home improvement retailer’s stock after selling 50 shares during the period. Westover Capital Advisors LLC’s holdings in Home Depot were worth $1,412,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Home Depot by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after purchasing an additional 433,126 shares during the period. Fisher Asset Management LLC boosted its position in Home Depot by 1.3% during the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after purchasing an additional 125,441 shares during the period. FMR LLC boosted its position in Home Depot by 10.1% during the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after purchasing an additional 795,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Home Depot by 5.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after buying an additional 409,890 shares during the last quarter. Finally, Swiss National Bank boosted its position in Home Depot by 0.3% in the 3rd quarter. Swiss National Bank now owns 2,943,400 shares of the home improvement retailer’s stock valued at $1,192,666,000 after buying an additional 9,200 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada decreased their price objective on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial decreased their price objective on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Robert W. Baird decreased their price objective on shares of 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 and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Price Performance

HD opened at $389.03 on Tuesday. The firm has a market cap of $386.45 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company’s 50-day moving average price is $401.29 and its 200 day moving average price is $399.57. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the business earned $2.82 earnings per share. Home Depot’s revenue was up 14.1% compared to the same quarter last year. As a group, sell-side 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 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. The ex-dividend date is Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.36%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) 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.