J. L. Bainbridge & Co. Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

J. L. Bainbridge & Co. Inc. trimmed its holdings in The Home Depot, Inc. (NYSE:HD) by 1.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,592 shares of the home improvement retailer’s stock after selling 37 shares during the period. J. L. Bainbridge & Co. Inc.’s holdings in Home Depot were worth $1,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. POM Investment Strategies LLC lifted its stake in Home Depot by 1.1% in the fourth quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock valued at $824,000 after acquiring an additional 24 shares during the last quarter. Center for Financial Planning Inc. lifted its stake in shares of Home Depot by 0.5% during the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after buying an additional 24 shares during the last quarter. Insight Inv LLC lifted its stake in shares of Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC lifted its stake in shares of Home Depot by 2.3% during the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after buying an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC lifted its stake in shares of Home Depot by 0.5% during the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after buying an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research note on Wednesday, February 26th. Finally, 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 research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Trading Up 1.1 %

Shares of NYSE HD opened at $351.16 on Friday. 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. The firm has a 50 day moving average price of $397.43 and a two-hundred day moving average price of $399.26. The stock has a market cap of $348.83 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings results 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same period in the prior year, the company posted $2.82 EPS. The company’s revenue was up 14.1% on a year-over-year basis. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid 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 yield of 2.62%. Home Depot’s dividend payout ratio is currently 61.66%.

Home Depot 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.