Spectrum Wealth Counsel LLC Reduces Holdings in The Home Depot, Inc. (NYSE:HD)

Spectrum Wealth Counsel LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.9% in the fourth quarter, HoldingsChannel reports. The firm owned 26,130 shares of the home improvement retailer’s stock after selling 245 shares during the period. Home Depot makes up about 1.2% of Spectrum Wealth Counsel LLC’s portfolio, making the stock its 27th biggest holding. Spectrum Wealth Counsel LLC’s holdings in Home Depot were worth $10,164,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HD. Onefund LLC grew its stake in Home Depot by 2.8% in the 4th quarter. Onefund LLC now owns 2,678 shares of the home improvement retailer’s stock worth $1,042,000 after acquiring an additional 73 shares during the period. Nixon Peabody Trust Co. grew its stake in Home Depot by 3.9% in the 4th quarter. Nixon Peabody Trust Co. now owns 13,818 shares of the home improvement retailer’s stock worth $5,375,000 after acquiring an additional 523 shares during the period. Hamel Associates Inc. grew its stake in Home Depot by 0.4% in the 4th quarter. Hamel Associates Inc. now owns 11,372 shares of the home improvement retailer’s stock worth $4,424,000 after acquiring an additional 42 shares during the period. Flaharty Asset Management LLC grew its stake in Home Depot by 11.0% in the 4th quarter. Flaharty Asset Management LLC now owns 2,528 shares of the home improvement retailer’s stock worth $983,000 after acquiring an additional 251 shares during the period. Finally, Jacobi Capital Management LLC grew its stake in Home Depot by 2.3% in the 4th quarter. Jacobi Capital Management LLC now owns 8,374 shares of the home improvement retailer’s stock worth $3,257,000 after acquiring an additional 191 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD opened at $396.69 on Friday. The company has a 50-day moving average of $401.36 and a 200-day moving average of $399.06. The company has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. 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 quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 EPS. Equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Analysts Set New Price Targets

HD has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Stifel Nicolaus lifted their price target on shares of Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Truist Financial decreased their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a report on Wednesday. Nine equities 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, Home Depot has an average rating of “Moderate Buy” and a consensus 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.