Matisse Capital Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Matisse Capital decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 18.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,416 shares of the home improvement retailer’s stock after selling 316 shares during the quarter. Matisse Capital’s holdings in Home Depot were worth $551,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $26,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter valued at about $41,000. Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth about $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the third quarter worth about $46,000. Finally, Finley Financial LLC bought a new stake in Home Depot during the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Truist Financial raised their target price on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Morgan Stanley boosted their price target on shares of Home Depot from $380.00 to $450.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Wells Fargo & Company raised their price objective on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Finally, Bank of America boosted their target price on Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last quarter. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

Shares of Home Depot stock opened at $411.79 on Wednesday. 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 stock’s fifty day moving average is $407.47 and its two-hundred day moving average is $393.07. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a market capitalization of $409.05 billion, a PE ratio of 27.97, a price-to-earnings-growth ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.81 EPS. As a group, analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.19%. Home Depot’s payout ratio is 61.14%.

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.