Foundry Partners LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Foundry Partners LLC reduced its stake in The Home Depot, Inc. (NYSE:HD) by 14.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,150 shares of the home improvement retailer’s stock after selling 195 shares during the period. Foundry Partners LLC’s holdings in Home Depot were worth $447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Yoffe Investment Management LLC purchased a new position in Home Depot during the fourth quarter worth about $1,090,000. Annis Gardner Whiting Capital Advisors LLC increased its position in Home Depot by 2.9% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,613 shares of the home improvement retailer’s stock worth $1,017,000 after purchasing an additional 73 shares during the period. Uniting Wealth Partners LLC purchased a new position in shares of Home Depot during the 4th quarter worth approximately $368,000. Grant Private Wealth Management Inc acquired a new stake in shares of Home Depot in the 4th quarter valued at approximately $511,000. Finally, Spahn Wealth & Retirement LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $1,968,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Down 0.6 %

Shares of NYSE:HD opened at $353.78 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market cap of $351.67 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 4.03 and a beta of 1.08. The stock’s 50-day moving average price is $384.89 and its two-hundred day moving average price is $398.25. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

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, topping 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 business had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the company earned $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot’s dividend payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HD shares. Truist Financial cut their price objective on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a report on Wednesday, February 26th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Ten 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $435.85.

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.