The Home Depot, Inc. (NYSE:HD) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 19.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 552 shares of the home improvement retailer’s stock after selling 134 shares during the quarter. AlphaQuest LLC’s holdings in Home Depot were worth $215,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC purchased a new stake in Home Depot during the fourth quarter valued at about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter worth about $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $32,000. Legacy Investment Solutions LLC purchased a new stake in shares of Home Depot in the third quarter worth about $41,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Home Depot in the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Up 1.1 %

Shares of Home Depot stock opened at $351.16 on Monday. 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 business’s 50 day simple moving average is $397.43 and its 200-day simple moving average is $399.63. The stock has a market capitalization of $348.83 billion, a price-to-earnings ratio of 23.86, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last posted its 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. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. During the same period last year, the firm earned $2.82 EPS. The firm’s revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $2.30 dividend. This is a boost from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is currently 61.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on HD. Wells Fargo & Company upped their target price on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler decreased their target price on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their price target for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Finally, Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus price target of $436.50.

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.