The Home Depot, Inc. (NYSE:HD) Shares Sold by Brightwater Advisory LLC

Brightwater Advisory LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 5.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,340 shares of the home improvement retailer’s stock after selling 77 shares during the period. Brightwater Advisory LLC’s holdings in Home Depot were worth $521,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AMF Tjanstepension AB boosted its stake in Home Depot by 10.8% in the third quarter. AMF Tjanstepension AB now owns 171,005 shares of the home improvement retailer’s stock valued at $69,340,000 after acquiring an additional 16,650 shares in the last quarter. SYM FINANCIAL Corp boosted its position in shares of Home Depot by 17.8% in the 3rd quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock valued at $777,000 after purchasing an additional 289 shares during the period. Wealth Group Ltd. acquired a new position in Home Depot during the third quarter worth approximately $217,000. Swedbank AB lifted its stake in Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares during the last quarter. Finally, Hamlin Capital Management LLC grew its position in shares of Home Depot by 8.9% during the third quarter. Hamlin Capital Management LLC now owns 363,367 shares of the home improvement retailer’s stock worth $147,236,000 after acquiring an additional 29,558 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Performance

NYSE HD opened at $393.52 on Wednesday. The business has a 50 day moving average price of $401.23 and a 200 day moving average price of $398.48. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The company has a market capitalization of $390.90 billion, a P/E ratio of 26.73, 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.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during 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 revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.82 EPS. Sell-side 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 declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.34%. Home Depot’s dividend payout ratio is currently 61.14%.

Analyst Ratings Changes

Several brokerages have issued reports on HD. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $356.00 to $410.00 in a research report on Wednesday. Barclays boosted their price target on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Mizuho upped their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial lifted their target price on Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus boosted their target price on Home Depot from $375.00 to $400.00 and gave the company a “hold” rating in a report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $437.12.

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.