Cullen Frost Bankers Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Cullen Frost Bankers Inc. decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 0.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 207,902 shares of the home improvement retailer’s stock after selling 382 shares during the quarter. Home Depot accounts for about 1.1% of Cullen Frost Bankers Inc.’s holdings, making the stock its 23rd biggest holding. Cullen Frost Bankers Inc.’s holdings in Home Depot were worth $80,872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC purchased a new position in Home Depot in the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new position in Home Depot in the fourth quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in Home Depot in the fourth quarter worth approximately $32,000. NewSquare Capital LLC lifted its stake in Home Depot by 200.0% in the fourth quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after acquiring an additional 68 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in Home Depot in the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Shares of HD opened at $386.82 on Thursday. 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 stock has a market capitalization of $384.25 billion, a P/E ratio of 26.28, a P/E/G ratio of 4.03 and a beta of 1.05. The company’s fifty day moving average is $400.81 and its two-hundred day moving average is $399.62. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.82 EPS. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $2.30 per share. 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 2.38%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. Piper Sandler decreased their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Bank of America lifted their price target on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. Finally, Stifel Nicolaus raised their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.