SPC Financial Inc. Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

SPC Financial Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,382 shares of the home improvement retailer’s stock after selling 37 shares during the quarter. SPC Financial Inc.’s holdings in Home Depot were worth $1,705,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC increased its holdings in shares of Home Depot by 21,394.9% in 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 buying an additional 2,030,372 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Home Depot during the third quarter worth approximately $336,231,000. FMR LLC raised its position in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after purchasing an additional 795,438 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its stake in shares of 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 purchasing an additional 518,054 shares during the last quarter. Finally, Strategic Financial Concepts LLC boosted its holdings in shares of 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 worth $187,019,000 after purchasing an additional 479,485 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HD. Evercore ISI increased their price target on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Piper Sandler reduced their target price on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. 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. Mizuho upped their price target on shares of Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Trading Down 2.1 %

NYSE HD opened at $381.55 on Wednesday. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a 50 day moving average price of $401.00 and a 200 day moving average price of $399.71. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $379.02 billion, a PE ratio of 25.92, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.82 earnings per share. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

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.