NBT Bank N A NY Reduces Position in The Home Depot, Inc. (NYSE:HD)

NBT Bank N A NY decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,155 shares of the home improvement retailer’s stock after selling 553 shares during the quarter. NBT Bank N A NY’s holdings in Home Depot were worth $6,284,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Synergy Asset Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter valued at about $41,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Down 1.3 %

Shares of NYSE:HD opened at $376.66 on Monday. The firm’s 50 day moving average price is $400.21 and its 200 day moving average price is $400.02. The stock has a market cap of $374.16 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share 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 company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter last year, the company earned $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. Piper Sandler dropped 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. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Robert W. Baird dropped their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot 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 report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently 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.