Cinctive Capital Management LP Sells 6,029 Shares of The Home Depot, Inc. (NYSE:HD)

Cinctive Capital Management LP trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 25.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,832 shares of the home improvement retailer’s stock after selling 6,029 shares during the quarter. Cinctive Capital Management LP’s holdings in Home Depot were worth $6,936,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HD. Bryce Point Capital LLC bought a new stake in shares of Home Depot during the fourth quarter valued at about $557,000. Private Portfolio Partners LLC grew its stake in Home Depot by 2.2% during the fourth quarter. Private Portfolio Partners LLC now owns 2,956 shares of the home improvement retailer’s stock valued at $1,150,000 after acquiring an additional 64 shares in the last quarter. Intrepid Capital Management Inc. bought a new stake in Home Depot during the 4th quarter worth approximately $212,000. RFG Bristol Wealth Advisors LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $1,681,000. Finally, Potomac Fund Management Inc. ADV bought a new position in Home Depot in the 4th quarter valued at $1,690,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Trading Down 0.4 %

Home Depot stock opened at $364.96 on Wednesday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The business’s fifty day moving average is $388.06 and its 200 day moving average is $398.84. The stock has a market capitalization of $362.78 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.52%. Home Depot’s payout ratio is 61.66%.

Analysts Set New Price Targets

HD has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Wedbush restated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Nine equities 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 has a consensus 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.