First American Trust FSB Trims Position in The Home Depot, Inc. (NYSE:HD)

First American Trust FSB reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,836 shares of the home improvement retailer’s stock after selling 711 shares during the period. First American Trust FSB’s holdings in Home Depot were worth $1,103,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Home Depot in the fourth quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC grew its stake in shares of Home Depot by 21,394.9% during the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares during the period. Vanguard Group Inc. increased its holdings in shares of Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer’s stock valued at $37,251,142,000 after purchasing an additional 875,836 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Home Depot in the 3rd quarter valued at $336,231,000. Finally, FMR LLC boosted its holdings in Home Depot by 10.1% during the third quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after buying an additional 795,438 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on HD shares. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial lowered their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Nine 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’s stock. According to MarketBeat.com, Home Depot presently has a consensus rating of “Moderate Buy” and a consensus target price of $435.85.

Home Depot Trading Up 3.7 %

Shares of HD opened at $363.97 on Tuesday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market capitalization of $361.55 billion, a P/E ratio of 24.73, a P/E/G ratio of 4.03 and a beta of 1.09. The firm has a 50-day moving average price of $393.46 and a 200 day moving average price of $399.16. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last posted its quarterly 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. The business had revenue of $39.70 billion during 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%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 EPS. Sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. This is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.53%. Home Depot’s dividend payout ratio (DPR) 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.