Motco Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Motco trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,973 shares of the home improvement retailer’s stock after selling 1,241 shares during the quarter. Motco’s holdings in Home Depot were worth $6,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. K.J. Harrison & Partners Inc increased its stake in shares of Home Depot by 65.2% in the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after buying an additional 3,590 shares during the period. Pensionfund Sabic increased its position in shares of Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock valued at $4,357,000 after acquiring an additional 3,800 shares during the period. Swedbank AB raised its stake in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Wedmont Private Capital boosted its holdings in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after purchasing an additional 1,506 shares during the period. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $1,793,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of recent analyst reports. Wedbush reaffirmed an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research report on Wednesday. Guggenheim restated a “buy” rating and set a $450.00 target price on shares of Home Depot in a report on Wednesday. Evercore ISI raised their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Truist Financial dropped their target price 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. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

Shares of HD stock opened at $390.44 on Friday. The firm has a market capitalization of $387.85 billion, a PE ratio of 26.52, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a 50 day moving average price of $401.27 and a 200-day moving average price of $398.37. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. 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 released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the firm earned $2.82 EPS. The company’s revenue was up 14.1% compared to the same quarter last year. As a group, equities research 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 announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.36%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. 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.