Mutual of America Capital Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Mutual of America Capital Management LLC lowered its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,079 shares of the home improvement retailer’s stock after selling 3,403 shares during the quarter. Home Depot makes up approximately 0.5% of Mutual of America Capital Management LLC’s holdings, making the stock its 20th biggest position. Mutual of America Capital Management LLC’s holdings in Home Depot were worth $49,043,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Synergy Asset Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. purchased a new stake in Home Depot in the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $32,000. Legacy Investment Solutions LLC purchased a new stake in Home Depot in the 3rd quarter worth approximately $41,000. Finally, Marshall Investment Management LLC purchased a new stake in Home Depot in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $396.69 on Friday. The stock’s fifty day moving average is $401.36 and its 200 day moving average is $398.72. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a market capitalization of $394.06 billion, a PE ratio of 26.95, a PEG ratio of 4.03 and a beta of 1.05. 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 released 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. 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 analyst estimates of $39.15 billion. During the same quarter in the prior year, the firm posted $2.82 EPS. Home Depot’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Investors of record on Thursday, March 13th will be issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a yield of 2.32%. 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 is presently 61.66%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HD. Hsbc Global Res raised shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday. Wedbush reissued an “outperform” rating and issued a $440.00 target price on shares of Home Depot in a report on Wednesday. Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a research note on Wednesday. Truist Financial dropped their price target on Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company upped their price target on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company 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.