Baxter Bros Inc. Lowers Holdings in The Home Depot, Inc. (NYSE:HD)

Baxter Bros Inc. cut its position in The Home Depot, Inc. (NYSE:HD) by 0.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 24,755 shares of the home improvement retailer’s stock after selling 194 shares during the period. Home Depot makes up about 1.3% of Baxter Bros Inc.’s investment portfolio, making the stock its 21st largest holding. Baxter Bros Inc.’s holdings in Home Depot were worth $9,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bay Capital Advisors LLC bought a new stake in Home Depot during the fourth quarter valued at approximately $310,000. Potentia Wealth bought a new position in shares of Home Depot in the fourth quarter worth about $550,000. PKS Advisory Services LLC purchased a new position in Home Depot during the fourth quarter valued at approximately $885,000. Prestige Wealth Management Group LLC increased its stake in Home Depot by 2.0% in the 4th quarter. Prestige Wealth Management Group LLC now owns 6,686 shares of the home improvement retailer’s stock worth $2,601,000 after buying an additional 128 shares in the last quarter. Finally, Syverson Strege & Co raised its stake in Home Depot by 87.9% during the 4th quarter. Syverson Strege & Co now owns 1,045 shares of the home improvement retailer’s stock valued at $407,000 after purchasing an additional 489 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada lowered their target price on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Robert W. Baird lowered their target price on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler lowered their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday. Nine equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.85.

Home Depot Trading Up 3.7 %

NYSE HD opened at $363.97 on Tuesday. The firm has a market cap of $361.55 billion, a PE ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The firm’s fifty day moving average is $393.46 and its two-hundred day moving average is $399.16. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

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, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same period last year, the business posted $2.82 EPS. The company’s revenue was up 14.1% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. Home Depot’s dividend payout ratio is 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.