The Home Depot, Inc. (NYSE:HD) Shares Sold by Cypress Capital Group

Cypress Capital Group lessened its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 24,216 shares of the home improvement retailer’s stock after selling 553 shares during the period. Home Depot accounts for approximately 1.2% of Cypress Capital Group’s investment portfolio, making the stock its 21st biggest position. Cypress Capital Group’s holdings in Home Depot were worth $9,420,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HD. Proficio Capital Partners LLC raised its position in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Home Depot in the 3rd quarter valued at about $336,231,000. FMR LLC raised its holdings in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in Home Depot by 295.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after acquiring an additional 518,054 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in Home Depot by 37,025.9% in the 4th quarter. Strategic Financial Concepts LLC now owns 480,780 shares of the home improvement retailer’s stock valued at $187,019,000 after acquiring an additional 479,485 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $381.55 on Wednesday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The stock has a market capitalization of $379.02 billion, a P/E ratio of 25.92, a PEG ratio of 4.03 and a beta of 1.05. The company has a 50 day moving average price of $401.00 and a 200 day moving average price of $399.71. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37.

Home Depot (NYSE:HD) last issued 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 during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company posted $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm 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 $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.41%. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HD shares. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler cut their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.