GC Wealth Management RIA LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

GC Wealth Management RIA LLC lowered its stake in shares of The Home Depot, Inc. (NYSE:HD) by 44.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,501 shares of the home improvement retailer’s stock after selling 1,994 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Home Depot were worth $973,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in Home Depot by 2.0% in the 3rd 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 grew its holdings in Home Depot by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock worth $3,715,668,000 after acquiring an additional 125,441 shares during the last quarter. FMR LLC grew its holdings in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock worth $3,516,827,000 after acquiring an additional 795,438 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Home Depot by 5.4% during the 3rd 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 purchasing an additional 409,890 shares in the last quarter. Finally, Amundi boosted its stake in shares of Home Depot by 8.6% during the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after purchasing an additional 599,490 shares in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HD. Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Piper Sandler lowered 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 report on Wednesday, February 26th. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Finally, KGI Securities raised shares of Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

Shares of NYSE HD opened at $374.13 on Tuesday. The firm has a 50 day moving average of $399.91 and a 200 day moving average of $400.08. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $371.65 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. 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 announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm 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 company’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.82 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio (DPR) is 61.66%.

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.