The Home Depot, Inc. (NYSE:HD) Position Lessened by Haverford Trust Co

Haverford Trust Co lowered its position in The Home Depot, Inc. (NYSE:HD) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,282 shares of the home improvement retailer’s stock after selling 1,006 shares during the quarter. Haverford Trust Co’s holdings in Home Depot were worth $43,288,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HD. SYM FINANCIAL Corp raised its holdings in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after buying an additional 289 shares in the last quarter. Swedbank AB increased its holdings in shares of Home Depot by 17.1% during the 3rd 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. Principal Financial Group Inc. raised its stake in shares of Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after acquiring an additional 141,915 shares in the last quarter. United Bank lifted its holdings in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after purchasing an additional 181 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Home Depot during the third quarter valued at approximately $649,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Down 1.0 %

Shares of Home Depot stock opened at $352.12 on Monday. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $349.78 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a 50-day moving average of $393.97 and a two-hundred day moving average of $399.14.

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. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.82 earnings per share. As a group, equities analysts predict that The Home Depot, Inc. will post 15.13 EPS 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 given a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.61%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company upped their target price on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Truist Financial decreased their target price 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. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.50.

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.