Arbor Capital Management Inc. ADV Lowers Stock Position in The Home Depot, Inc. (NYSE:HD)

Arbor Capital Management Inc. ADV cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,563 shares of the home improvement retailer’s stock after selling 512 shares during the quarter. Home Depot accounts for approximately 1.9% of Arbor Capital Management Inc. ADV’s holdings, making the stock its 13th biggest position. Arbor Capital Management Inc. ADV’s holdings in Home Depot were worth $1,903,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock worth $8,767,449,000 after purchasing an additional 433,126 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Home Depot by 1.3% during the fourth quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after purchasing an additional 125,441 shares during the period. FMR LLC lifted its holdings in Home Depot by 10.1% in the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Home Depot by 5.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares during the period. Finally, Amundi lifted its holdings in Home Depot by 8.6% in the fourth quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after acquiring an additional 599,490 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HD shares. Royal Bank of Canada reduced their target price on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Truist Financial reduced their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Up 1.1 %

HD opened at $351.16 on Monday. 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 stock has a market capitalization of $348.83 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The business has a 50-day moving average of $397.43 and a two-hundred day moving average of $399.63. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The company had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.82 EPS. On average, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current 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 paid 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 2.62%. The ex-dividend date is Thursday, March 13th. Home Depot’s payout ratio is currently 61.66%.

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.