Gulf International Bank UK Ltd Sells 852 Shares of The Home Depot, Inc. (NYSE:HD)

Gulf International Bank UK Ltd cut its stake in The Home Depot, Inc. (NYSE:HD) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 76,721 shares of the home improvement retailer’s stock after selling 852 shares during the quarter. Home Depot accounts for 0.8% of Gulf International Bank UK Ltd’s holdings, making the stock its 21st biggest position. Gulf International Bank UK Ltd’s holdings in Home Depot were worth $29,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of HD. Synergy Asset Management LLC bought a new stake in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC bought a new position in shares of Home Depot during the 3rd quarter worth approximately $41,000. Finally, Sugar Maple Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter worth approximately $41,000. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Performance

Shares of HD opened at $390.40 on Thursday. The stock’s 50-day simple moving average is $401.17 and its 200 day simple moving average is $398.42. The stock has a market capitalization of $387.81 billion, a price-to-earnings ratio of 26.52, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last announced its earnings results 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. The business had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.82 EPS. Research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. 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 2.36%. Home Depot’s dividend payout ratio is 61.14%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Truist Financial cut their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday. Finally, Mizuho raised their price target on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $436.50.

Home Depot Company Profile

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.